Shandong Tai’an Xinhua Printing Co., Ltd. announced that it expects to receive CNY 24.3 million in funding from Shandong Publishing&Media Co.,Ltd
January 08, 2018
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Shandong Tai’an Xinhua Printing Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 24,300,000 on January 9, 2018. As a part of the round, CNY 10,000,000 will be added as paid-in capital and CNY 14,300,000 as capital reserve. The transaction will include participation from existing investor Shandong Publishing&Media Co.,Ltd (SHSE:601019). Post the closing, the investor will maintain 100% stake in the company. The transaction was approved at the 22nd session of the 2nd directorate and the 13th session of the 2nd supervisory board of the investor.
Shandong Publishing and Media Co., Ltd. is a China-based company principally engaged in the publishing, issuing, printing and material trading of books, periodicals and electronic audio-visual products. The Company's main products include teaching materials and teaching auxiliary, as well as general books. The Company is also engaged in advertising business and the copyright agency of publications. The Company distributes its products within domestic market and to overseas markets.