Tianjin Capital Environmental Protection Group Company Limited announced that it expects to receive CNY 1.799999999 billion in funding from Three Gorges Capital Holdings Co., Ltd., Tianjin Municipal Investment Co.,Ltd, Yangtze Ecology and Environment Co., Ltd.
July 12, 2020
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Tianjin Capital Environmental Protection Group Company Limited announced that it has entered into subscription and strategic investor subscription agreements for private placement of 323,741,007 A shares at a price of CNY 5.56 per share for gross proceeds of CNY 1,799,999,998.92 on July 13, 2020. The transaction will include participation from returning investor Tianjin Municipal Investment Co., Ltd subscribing to 35,971,223 shares for CNY 199,999,999.9 and holding a stake of 42.92% post completion as compared to 50.14% before completion, new investors including Yangtze Ecology and Environment Co., Ltd. subscribing to 179,856,115 shares for CNY 999,999,999.4 amounting to 10.27% stake post completion and Three Gorges Capital Holdings Co., Ltd subscribing to 107,913,669 shares for CNY 59,999,999.6 amounting to 6.16% stake post completion with collectively all three investors subscribing to approximately 18.49% stake in the transaction. The transaction is subject to approval from relevant state-owned assets supervision and administration authority and the China Securities Regulatory Commission, and the approvals by the shareholders at the extraordinary general meeting being A shareholders’ class meeting and H shareholders’ class meeting and authorized institution of investors approving the transaction. The number of shares issued and price will be subject to certain adjustment under certain conditions. The shares to be subscribed shall not be transferred within 18 months from the date of the completion of the issuance of the transaction. Each of Three Gorges Capital Holdings Co., Ltd and Yangtze Ecological Environmental Protection Group. Co., Ltd may nominate one director candidate to the company. The transaction was approved at the 8th meeting of the 8th supervisory board of the company.
Tianjin Capital Environmental Protection Group Company Limited is engaged in water utilities business, and energy cooling and heating supply business. The Company's principal activities include the processing of sewage water, construction and management of related facility, supply of tap water, recycled water and supply of heating and cooling and management of related facility. Its segments include Tianjin plants, Hangzhou plants, Other plants, Recycled water, Heating and Cooling, Tap water, Sale of environmental protection equipment and All other. It provides design, construction and operations of sewage processing facility and financing, construction and transfer of sewage processing facility project services. The recycled water business includes developing, constructing and operating of recycled water projects, production and sale of recycled water, and provision of related research and development, and technical consultation services.
Tianjin Capital Environmental Protection Group Company Limited announced that it expects to receive CNY 1.799999999 billion in funding from Three Gorges Capital Holdings Co., Ltd., Tianjin Municipal Investment Co.,Ltd, Yangtze Ecology and Environment Co., Ltd.