Foshan Huazhaoneng Investment Co., Ltd. announced that it expects to receive CNY 50 million in funding from Foshan Gas Group Co.,Ltd.
December 03, 2018
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Foshan Huazhaoneng Investment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 50 million from returning investor Foshan Gas Group Co.,Ltd. (SZSE:002911) on December 4, 2018. Post closing, the registered capital of the company will increase from CNY 50 million to CNY 100 million and the investor will retain 100% stake in the company. The transaction has been approved at the investors's 17th session of the 4th directorate 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. 
