Foshan Huazhaoneng Investment Co., Ltd. announced that it expects to receive CNY 200 million in funding from Foshan Gas Group Co.,Ltd.
March 20, 2019
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Foshan Huazhaoneng Investment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 200,000,000 from returning investor Foshan Gas Group Co.,Ltd. (SZSE:002911) on March 21, 2019. Post the transaction, the registered capital of the company will increase from CNY 100,000,000 to CNY 300,000,000 and the investor will retain 100% stake in the company. The transaction has been approved at the investors's 19th session of the 4th directorate meeting. The transaction does not need to be submitted for review at the company 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.
FORAN ENERGY GROUP CO., LTD. 
