Jiangyin Huaxicun Capital Co., Ltd. announced that it expects to receive CNY 1.26 billion in funding from Jiangsu Huaxicun Co., Ltd.
June 20, 2016
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Jiangyin Huaxicun Capital Co., Ltd. announced that it will receive CNY 1,260,000,000 in an equity round of funding on June 21, 2016. The transaction will include participation from existing investor, Jiangsu Huaxicun Co., Ltd. (SZSE:000936). Upon completion of the transaction; the company’s registered capital will increase from CNY 1,308,000,000 to CNY 2,568,000,000. The transaction has been approved in the 20th meeting of the 6th directorate of the investor. The investor will acquire 49.065421% stake in the company through this transaction. Upon completion of the transaction; the investor will retain 100% stake in the company. The transaction does not require shareholder's approval of the investor.
JIANGSU HUAXICUN CO.,LTD. is a China-based company principally engaged in the research, development, production and sale of textile chemical fiber products. The Company operates through three business segments. Polyester Fiber segment mainly provides polyester staple fibers. Petrochemical Warehousing and Logistics segment mainly provides terminal loading and unloading, warehousing, barging transit and pipeline transportation services for liquid chemicals. Investment segment is mainly involved in merger and acquisition investment, venture capital, asset management and strategic investment. The Company operates its business in domestic market.