Gnord Transmission System Co., Ltd. announced that it expects to receive CNY 200 million in funding from Jiangsu Guomao Reducer Co., Ltd.
March 04, 2021
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Gnord Transmission System (Changzhou) Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 200,000,000 on March 5, 2021. The transaction will involve participation from existing investor, Jiangsu Guomao Reducer Co., Ltd. (SHSE:603915). Post the closing, the registered capital of the company will increase from CNY 100,000,000 to CNY 300,000,000. Post-closing, the investor will continue to retain its 100% stake in the company. The transaction has been approved by the board of directors of the investor at its 11th session of its 2nd directorate.
Jiangsu Guomao Reducer Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of reducers. The Company's main products are reducers, which includes gear reducers (including modular reducers and high-power reducers) and cycloidal pin wheel reducers. The Company's products are widely used in various fields of national economy such as environmental protection, construction, electricity, chemicals, food, logistics, plastics, rubber, mining, metallurgy, petroleum, cement, shipbuilding, water conservancy, textile, printing and dyeing, feed and pharmaceutical. In addition, The Company also provides accessories and Maintenance modification services. The Company mainly distributes its products in the domestic market.
JIANGSU GUOMAO REDUCER CO., LTD. 
