Foshan Sanshui Gas Co., Ltd. announced that it expects to receive CNY 66 million in funding from Foshan Gas Group Co.,Ltd.
March 20, 2019
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Foshan Sanshui Gas Co., Ltd. announced that it will receive CNY 66,000,000 in an equity round of funding on March 21, 2019. The transaction will include participation from returning investor Foshan Gas Group Co.,Ltd. (SZSE:002911) to retain its 100% stake in the company. Post closing of the transaction, the capital of the company will increase from CNY 178,020,000 to 244,020,000. The transaction has been approved by the board of directors of the investor at the 19th session of the 4th directorate meeting and 10th session of the 4th supervisory board 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. 
