Estun Medical Technology Co., Ltd. announced that it expects to receive CNY 79.23936 million in funding from Nanjing Paileisite Technology Co., Ltd., Estun Automation Co., Ltd
Estun (Nanjing) Medical Technology Co., Ltd. announced a private placement of common shares for gross proceeds of $11,800,000 (CNY 79,239,360) on March 26, 2019. The transaction will involve participation from existing investor, Estun Automation Co., Ltd (SZSE:002747) and new investor, Nanjing Paileisite Technology Co., Ltd. The investors will gradually invest in the company within the next two years. Post-closing of the transaction, Nanjing Paileisite Technology Co., Ltd. will hold 60% stake, Estun Automation Co., Ltd (SZSE:002747) and Barrett Technology, LLC will hold 20% stake each in the company. The registered capital of the company is $4,000,000 (CNY 26,860,800). The transaction has been approved by the board of directors of the company at its 14th session of the 3rd directorate.