Foshan Shunde Water Industry Holding Co., Ltd. announced that it expects to receive CNY 75 million in funding from Guangdong Shunkong Development Co. Ltd.
Foshan Shunde Water Industry Holding Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 75 million on March 29, 2021. The transaction will include participation from returning investor Guangdong Shunkong Development Co. Ltd. (SZSE:003039). As a result, company's paid-in capital will increase from CNY 200 million to CNY 275 million and investor will continue to hold 100% stake in the company. The transaction has been reviewed and approved at the 22nd meeting of the second board of directors of the investor.