Ningbo Economic and Technological Development Zone Thermal Power Co., Ltd. announced that it expects to receive CNY 60 million in funding from Ningbo United Group Co.,Ltd.
April 23, 2020
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Ningbo Economic and Technological Development Zone Thermal Power Co., Ltd. announced that it will issue common shares for a gross proceeds of CNY 60 million on April 24, 2020. The transaction will include participation from existing investor Ningbo United Group Co.,Ltd. (SHSE:600051). Post to the transaction, the registered capital of the company will increase from CNY 140 million to CNY 200 million. The transaction has been approved in the 5th meeting of the 9th directorate, 5th meeting of the 9th supervisory committee of the investor and does not need approval of its shareholders and relevant government departments.
NINGBO UNITED GROUP CO., LTD is engaged in real estate business, wholesale business, power and thermal production and supply business, as well resident service business. Its real estate business mainly provides traditional housing, cultural tourism real estates and special commercial real estates. Its wholesale business is mainly engaged in import and export trading in clothing, textiles, footwear and paper. Its resident service business is mainly engaged in wedding ceremony business, which provides wedding ceremony services, photography services and car rental services.
Ningbo Economic and Technological Development Zone Thermal Power Co., Ltd. announced that it expects to receive CNY 60 million in funding from Ningbo United Group Co.,Ltd.