Jiangxi Yongguan Technology Development Co., Ltd. announced that it expects to receive CNY 300 million in funding from Shanghai Yongguan Adhesive Products Corp., Ltd.
Jiangxi Yongguan Technology Development Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 300,000,000 on May 13, 2021. The transaction will involve participation from existing investor, Shanghai Yongguan Adhesive Products Corp., Ltd. (SHSE:603681). Out of the total amount, the company will receive CNY 30,000,000 as part of registered capital and CNY 270,000,000 as part of capital reserve. Post-closing of the transaction, the registered capital of the company will increase from CNY 132,000,000 to CNY 162,000,000. Post-closing, Ningbo Thermal Power Co.,Ltd will continue to retain its 100% stake in the company. The transaction has been reviewed and approved at the 13th Meeting of the 3rd board of directors.