Huabao Food Flavours & Fragrances Co., Ltd. announced that it expects to receive CNY 846.92 million in funding from Qushui Innovation Development Co., Ltd., and another investor
September 09, 2016
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Huabao Food Flavours & Fragrances (Shanghai) Co., Ltd. announced that it has entered into an agreement for a private placement of 54,290,000 shares at a price of CNY 15.6 per share for gross proceeds of CNY 846,924,000 on September 9, 2016. The shares will be issued at a premium. The transaction will include participation from new investors, Qushui Innovation, which will acquire 3,890,000 shares for a 0.7018% stake, GQC Orient Securities, which will acquire 24,320,000 shares for a 4.3876% stake, and GQC S-Land Investment which will acquire 26,080,000 shares for a 4.7051% stake in the company. The transaction is subject to approval at the company’s general meeting, and approval from its relevant business administrative departments. The shares shall be subject to a lock up period for 36 months after completion of the transaction.
Huabao Flavours & Fragrances Co., Ltd. is a China-based company which is mainly engaged in research and development, manufacture and sales of fragrances. The Company also operates food ingredients business. The Company's fragrances mainly include tobacco fragrances, food fragrances and daily fragrances. The Company's tobacco flavor is mainly used in tobacco, filter rods, cigarette paper and internal backing. The Company's food ingredient products mainly include seasoning powder, seasoning sauce, seasoning oil and liquid compound seasoning. The Companyâs main brands include Xideng, Huabao, Peacock, Tianhong, Huafang, Aohuada, Amber and others.
Huabao Food Flavours & Fragrances Co., Ltd. announced that it expects to receive CNY 846.92 million in funding from Qushui Innovation Development Co., Ltd., and another investor