Foshan Huahaoneng Energy Investment Co., Ltd announced that it expects to receive CNY 92 million in funding from Foran Energy Group Co., Ltd.
August 19, 2020
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Foshan Huahaoneng Energy Investment Co., Ltd announced that it will receive CNY 92,000,000 in an equity round of funding on August 20, 2020. The transaction included participation from returning investor Foran Energy Group Co., Ltd. (SZSE:002911). On closing, the investor retains its 100% stake in the company. Post-closing, the registered capital of the company will increase from CNY 8,000,000 to CNY 100,000,000. The transaction was approved by the board of directors of Foran Energy Group Co., Ltd. (SZSE:002911) in its 39th meeting of the fourth board of directors and does not need to be submitted to the company's shareholders meeting.
Foran Energy Group Co.,Ltd., formerly Foshan Gas Group Co.,Ltd., is a China-based company principally engaged in the transmission and distribution of natural gas. The Company also provides gas engineering design and construction, distributed energy, natural gas trading, gas storage peak shaving and other businesses. The Company's main product is natural gas, which is mainly applied to the fields of residential life, industry, commerce, power generation, transportation and distributed energy. The Company mainly distributes its products within domestic market.