Zhejiang Jiahua Special Nylon Co., Ltd. announced that it expects to receive $76 million in funding from Zhe Jiang Taihua New Material Co., Ltd. and another investor
February 25, 2019
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Zhejiang Jiahua Special Nylon Co., Ltd. announced a private placement of common shares for gross proceeds of $76,000,000 on February 26, 2019. The transaction will include participation from returning investors Zhe Jiang Taihua New Material Co., Ltd. (SHSE:603055), which holds 63.33% stake in the company and Nisida Co., Ltd., which holds 36.67% stake in the company. Post completion of the transaction, the registered capital of the company will increase from $60,000,000 to $136,000,000. The transaction has been approved in the 11th meeting of the 3rd directorate of Zhe Jiang Taihua New Material Co., Ltd. (SHSE:603055).
Zhe Jiang Taihua New Material Co Ltd, formerly Zhejiang Taihua New Material Co., Ltd., is a China-based company principally involved in the nylon weaving business. The Company operates through two main segments. The Main Business segment is primarily involved in the research, development, manufacturing and sales of nylon finished fabric-centered textile materials. The Companyâs main products are nylon filament, nylon fabric and nylon finished fabric. The Other Business segment is mainly involved in rental housing and sales of scraps.
Zhejiang Jiahua Special Nylon Co., Ltd. announced that it expects to receive $76 million in funding from Zhe Jiang Taihua New Material Co., Ltd. and another investor
ZHEJIANG TAIHUA NEW MATERIAL CO.,LTD 
