Henan Pingmei Shenma Shoushan Chemical Technology Co., Ltd. announced that it expects to receive CNY 331 million in funding from Xuchang Wohushan Coking Co.,Ltd., Sansteel MinGuang Co.,Ltd.,Fujian, China Pingmei Shenma Group
June 29, 2021
Share
Henan Pingmei Shenma Shoushan Chemical Technology Co., Ltd. announced that it will receive CNY 331,000,000 in a round of funding on June 30, 2021. The transaction will include participation from existing investors, Xuchang Wohushan Coking Co.,Ltd. for CNY 139,450,300 which will retain 42.13% stake, Sansteel MinGuang Co.,Ltd.,Fujian for CNY 22,739,700 which will retain 6.87% stake and China Pingmei Shenma Group for CNY 168,810,000 which will retain 51% stake. The transaction has been approved by the board of directors in its sixteenth meeting of the seventh board of directors of Sansteel MinGuang Co.,Ltd.,Fujian and the transaction does not need shareholders approval. As part of the transaction, the registered capital of the company will be increased from CNY 776,000,000 to CNY 1,107,000,000.
Sansteel MinGuang Co., Ltd., Fujian is a China-based company principally engaged in the manufacturing and sales of steel smelting, rolling, processing and extended pressure products. The Company's main products include construction materials, steel products, medium thickness sheets, high quality round bar steel and coal chemical products, such as sheets, rebars, smooth round steel, round bars, wire rods, billet and other products. The Company mainly distributes its products in domestic markets.
Henan Pingmei Shenma Shoushan Chemical Technology Co., Ltd. announced that it expects to receive CNY 331 million in funding from Xuchang Wohushan Coking Co.,Ltd., Sansteel MinGuang Co.,Ltd.,Fujian, China Pingmei Shenma Group