Beijing XinBang Daikokuya Trading Corporation, Ltd. announced that it will receive CNY 50 million in equity funding on September 28, 2016. The transaction will include participation from returning investors Daikokuya Holdings Co., Ltd. and CITIC XinBang Asset Management Corporation Ltd. for CNY 25 million each; to maintain their stakes of 50% each in the company. The transaction will take place in two tranches of CNY 25 million each to be completed by September 28, 2016 and April 2017 respectively.
On the same day, the company announced that it has received CNY 25 million in its first tranche. The investors invested for CNY 12.5 million each.