Chongqing Youyou Food Sales Co., Ltd. announced that it expects to receive CNY 241.9883 million in funding from YouYou Foods Co., Ltd.
May 29, 2019
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Chongqing Youyou Food Sales Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 241,988,300 on May 30, 2019. The transaction will involve participation from existing investor, YouYou Foods Co., Ltd. (SHSE:603697). Post-closing of the transaction, the investor will retain its 100% stake in the company. Out of the total amount, CNY 30,000,000 will serve as new registered capital and the remaining will be placed in capital reserve of the company. Post-closing of the transaction, the registered capital of the company will increase from CNY 10,000,000 to CNY 40,000,000. The transaction has been approved by the 14th meeting of the second directorate and the 11th meeting of the second board of supervisors.
YouYou Foods Co., Ltd. is a China-based company mainly engaged in research, development, production and sales of pickled peppers and spiced flavor snack foods. The Company has gradually formed a series of pickled peppers and spiced flavor snack foods, such as pickled chicken feet, marinated turkey wings and other meat products, supplemented by non-meat products such as dried beans, peanuts and bamboo shoots. The Company operates its business mainly in domestic market.
YOUYOU FOODS CO., LTD. 