Zhaoyuan Junbang Trading Co., Ltd. announced that it has received CNY 45 million in funding from Yantai Shuangta Food Co.,Ltd.
March 05, 2014 at 11:00 pm EST
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Zhaoyuan Junbang Trading Co., Ltd. announced that it will receive CNY 45,000,000 in a round of funding from existing investor, Yantai Shuangta Food Co.,Ltd on February 24, 2014. The company will issue equity securities in the transaction. The company's registered capital will increase from CNY 5,000,000 to CNY 50,000,000 upon completion of the transaction. On the same date, the transaction was approved at the 24th meeting of the 2nd board of directors of the investor. The transaction does not require the approval at the investor's shareholders meeting.
On March 6, 2014, Zhaoyuan Junbang Trading Co., Ltd. closed the transaction.
YANTAI SHUANGTA FOOD CO.,LTD. is a China-based company principally engaged in the production and distribution of agricultural and sideline products. The Companyâs main products include pure bean vermicelli, grain vermicelli, sweet potato vermicelli, pea protein, dietary fiber and edible fungus, among others. The Company distributes its products in domestic market and to overseas markets.