Jiangsu Ruifan Energy Saving Technology Service Co., Ltd. announced that it has received CNY 37.5 million in funding from Jiangsu Shentong Valve Co., Ltd.
July 06, 2021
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Jiangsu Ruifan Energy Saving Technology Service Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 37,500,000 on July 7, 2021. The transaction includes participation from existing investor, Jiangsu Shentong Valve Co., Ltd. (SZSE:002438). Post-closing of the transaction, the registered capital has increased from CNY 12,500,000 to CNY 50,000,000. Post-closing, the investor will retain its 100% stake in the company. The investor did not need the approvals of the investor’s directorate and shareholders. The company has completed the change of business registration of its capital increase.
Jiangsu Shentong Valve Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of industrial valves. The Company provides BFG all dry dust removal system, Converter gas dust and recovery system, coke oven flue gas dust removal system, special valves of gas pipeline network system, which are used for metallurgy industry, coal chemical industry, ultra (ultra) supercritical thermal power industry, LNG cryogenic valves, and petroleum and petrochemical special valves.
Jiangsu Ruifan Energy Saving Technology Service Co., Ltd. announced that it has received CNY 37.5 million in funding from Jiangsu Shentong Valve Co., Ltd.