Jiangsu Xianke Semiconductor New Material Co., Ltd. announced that it expects to receive CNY 1.07 billion in funding from a group of investors
November 16, 2016
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Jiangsu Xianke Semiconductor New Material Co., Ltd. announced a private placement for gross proceeds of CNY 1,070,000,000 on November 17, 2016. The company will issue common shares in the transaction. The transaction will include participation from Suzhou Manlu Jiuding Investment Center (Limited Partnership) for CNY 200,000,000 for 16.39% stake in the company, existing investors Jiangsu Huatai Ruilian M&A Fund (Limited Partnership); a fund managed by Sequoia Capital China and Huatai Ruilian Fund Management Co., Ltd. for CNY 190,000,000 which will hold 18.03% stake in the company post completion of the transaction, Nongyin Wuxi Equity Investment Fund Enterprise (L.P.); a fund managed by Nongyin Guolian Investment Management Co., Ltd. for CNY 85,000,000, which will hold 8.20% stake in the company post completion, ABCI International Investment Suzhou Co., Ltd. for CNY 127,500,000 which will hold 12.30% stake in the company post completion, Jiangsu Guidu Investment Co., Ltd. for CNY 167,000,000 which will hold 16.39% stake post completion, Suzhou New Area Chuangxin Technology Investment Management Co., Ltd. for CNY 85,000,000 which will hold 8.20% stake post completion, Suzhou Yiyang Investment Advisory Partnership Enterprise (General Partnership) for CNY 42,500,000 which will hold 4.10% stake in the company post completion, Jiuding Investment for CNY 200,000,000 which will hold 16.39% stake post completion, and Jiangsu Yoke Technology Co., Ltd. (SZSE:002409) for CNY 173,000,000 which will hold 16.39% stake in the company post completion. Post completion of the transaction, the registered capital of the company will increase from CNY 150,000,000 to CNY 1,220,000,000. The transaction has been approved in the 3rd special shareholder's meeting for 2016 of the company.
Jiangsu Yoke Technology Co., Ltd is a China-based company principally engaged in the research, development, production and sale of organic phosphate flame retardants and other rubber and plastic aids. The Companyâs main products portfolio consists of flame retardants for engineering products, flame retardants for polyurethane and others. The Company's flame retardants are mainly applied in chemical materials, carpets, raincoats, textile products and rubber products. The Company also provides tin salts, silicon oil and amine products, silicone surfactant for polyurethane, as well as catalysts for polyurethane and others. The Company distributes its products in domestic markets and to overseas markets.