Jiangsu Shuangxing Color Plastic New Materials Co., Ltd. announced that it has received CNY 1.91 billion in funding from a group of investors
March 28, 2017
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On March 29, 2017, Jiangsu Shuangxing Color Plastic New Materials Co., Ltd. (SZSE:002585) closed the transaction. The company issued 172,117,039 A-shares for proceeds of CNY 1,999,999,993.18 in the transaction. Wu Di participated for 600,000,001.44 in the transaction and raised his stake in the company to 5.82%. Lv Zhiyan participated for CNY 271,859,997.78 in transaction and holding 2.63% stake in the company. The transaction also included participation from CITIC Securities Company Limited (SHSE:600030) for CNY 156,299,992.52, Bosera Asset Management Co., Ltd. for CNY 153,840,026.90, Penghua Fund Management Co. Ltd. for CNY 401,999,988.88, Beixin Ruifeng Fund Management Co.,Ltd. for CNY 175,999,994.38, and Essence Fund Management Co., Ltd for CNY 239,999,991.28. The company incurred issue expenses of CNY 32,427,116.95 as part of the transaction. The shares subscribed by Mr. Wu Di may not be transferred within 36 months from the listing date of the new shares; shares subscribed by other investors may not be transferred within 12 months from the listing date of the new shares .
Jiangsu Shuangxing Color Plastic New Materials Co., Ltd. is a China-based company principally engaged in the research, development, production and sale of functional film. The Company's main products include polymer composites, new optoelectronic materials, optical film, solar cell backing film, back sheets, polyester capacitive film, variable information materials, heat shrinkable materials and polyester base film. The Company's products are mainly used in the area of packaging in food, beverage, medicine and daily necessity industries. The Company distributes its products in domestic and to overseas markets.
JIANGSU SHUANGXING COLOR PLASTIC NEW MATERIALS CO., LTD. 
