Liyang Yuequan Electric Energy Co., Ltd. announced that it expects to receive CNY 50 million in funding from Shanghai Putailai New Energy Technology Co., Ltd.
Liyang Yuequan Electric Energy Co., Ltd. announced a private placement of 50,000,000 shares at a price of CNY 1 per share for gross proceeds of CNY 50,000,000 on November 30, 2017. The transaction will include participation from returning investor, Shanghai Putailai New Energy Technology Co., Ltd. (SHSE:603659). Post the closing of the transaction, the registered capital of the company will increase from CNY 250,000,000 to CNY 300,000,000. Post the closing, the investor will hold 21.62% stake in the company. The transaction was approved at the 1st directorate’s 19th meeting and the 1st supervisory board's 10th meeting.