Jiangsu Canlon Building Materials Co., Ltd. announced that it has received CNY 1.499999964 billion in funding from Kailun Holding Investment Co., Ltd.
June 01, 2021
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On June 2, 2021, Jiangsu Canlon Building Materials Co., Ltd. (SZSE:300715) closed the transaction. On the same day, the company amended the terms of the transaction. The company has now issued 77,800,828 shares at an issue price of CNY 19.28 for gross proceeds of CNY 1,499,999,963.84. The company paid tax issuance expenses of CNY 10,309,246.07 in the transaction raising net amount of funds of CNY 1,489,690,717.77. The transaction included participation from new investor, Qian Lindi for CNY 499,999,981.52 to hold 6.73% stake in the company and returning investor, Kailun Holding Investment Co., Ltd. for CNY 999,999,982.32 to hold 43.65% stake in the company.
Jiangsu Canlon Building Materials Co Ltd is a company mainly engaged in research and development, production and sales of building waterproof materials. The Company's products include polymer coils, asphalt-based coils, polyurethane coatings, polymer cement coatings and so on, which are used in a range of public facilities and infrastructure construction projects, including high-speed railways, subways, tunnels and airports. The Company also provides waterproofing construction services. The Company sells its products to both domestic and international markets, including Pakistan, Thailand, Britain, Norway, Singapore, Australia and Egypt.
JIANGSU CANLON BUILDING MATERIALS CO., LTD. 
