Foxx URE-BA Ambiental Ltda announced a private placement of 40,259,258 common shares at a price of BRL 0.956301 for gross proceeds of BRL 38,499,968.68 on April 23, 2018. The transaction will include participation from new investor China Jinjiang Environment Holding Company Limited (SGX:BWM). Post the closing, the investor will hold 51% stake in the company.