Hangzhou Yunti Technology Co., Ltd. announced that it expects to receive $14.15 million in funding from IReader Technology Co., Ltd., ZJKF Capital Management Co., Ltd.
April 25, 2020
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Hangzhou Yunti Technology Co., Ltd. announced that it has entered into an agreement to receive an equity round of funding from IReader Technology Co., Ltd. (SHSE:603533) on April 26, 2020. The transaction as been approved by the board of directors of the investor and does not need its shareholders approval. Post completion of the capital increase and the share transfer, the investor will hold 17.66% stake in the company.
IReader Technology Co., Ltd is a China-based company principally engaged in the provision of Internet digital reading services and value-added services. The value-added services mainly include the content related value-added services, such as copyright business; the hardware related value-added services, such as hardware products business; the traffic related services such as game intermodal and advertising marketing businesses. The Company mainly provides digital reading services through the brand of Palm Reading. The Company mainly operates its business in domestic market.
Hangzhou Yunti Technology Co., Ltd. announced that it expects to receive $14.15 million in funding from IReader Technology Co., Ltd., ZJKF Capital Management Co., Ltd.
IREADER TECHNOLOGY CO., LTD. 
