Huafon Microfibre Co., Ltd. announced that it has received CNY 399.999998 million in funding from China Huarong Asset Management Co., Ltd., Investment Arm
October 28, 2020
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On October 28, 2020, Huafon Microfibre (Shanghai) Co., Ltd. (SZSE:300180) closed the transaction. The company issued 57,306,590 shares at a price of CNY 6.98 per share for gross proceeds of CNY 399,999,998.20. The transaction included participation from China Huarong Asset Management Co., Ltd., Investment Arm. The company paid issuance expenses of CNY 9,076,174.49 and received net proceeds of CNY 390,923,823.71 which includes CNY 57,306,590 as paid-in capital and CNY 333,617,233.71 as capital reserve.
Huafon Microfibre (Shanghai) Co., Ltd. is a China-based company principally engaged in the production and sales of microfiber materials. The Company's main products include microfiber synthetic leather, microfiber base billets and suede. The Company's products are mainly used in footwear, sofa furniture, luggage, balls, gloves, clothing, automotive interiors and military applications. The Company distributes its products in domestic market and to overseas markets.
Huafon Microfibre Co., Ltd. announced that it has received CNY 399.999998 million in funding from China Huarong Asset Management Co., Ltd., Investment Arm
HUAFON MICROFIBRE (SHANGHAI) CO., LTD. 
