Zhaoqing Foran Natural Gas Co., Ltd. announced that it expects to receive CNY 90.8822 million in funding from Foran Energy Group Co., Ltd.
April 13, 2020
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Zhaoqing Foran Natural Gas Co., Ltd. announced that it will receive CNY 90,882,200 in an equity round of funding on April 14, 2020. The transaction will include participation from returning investor Foran Energy Group Co., Ltd. (SZSE:002911). Post the transaction, the registered capital of the company will increase from CNY 200,000,000 to CNY 290,882,200 and investor will retain 100% stake in the company. The transaction has been approved by the board of directors of the investor in 32nd meeting of the 4th directorate and the 16th meeting of the 4th reunion of supervisors.
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. 
