Hunan Heshun Tongguan Petroleum Co., Ltd. announced that it expects to receive CNY 200 million in funding from Hunan Heshun Petroleum Co.,Ltd.
April 15, 2020
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Hunan Heshun Tongguan Petroleum Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 200 million on April 15, 2020. The transaction will include participation from returning investors, Hunan Heshun Petroleum Co.,Ltd. (SHSE:603353) to retain its 100% stake in the company. The registered capital of the company will increase from CNY 30 million to CNY 230 million. The transaction has been approved at the 12th meeting of the 2nd directorate of the investor as well as by the 8th meeting of the 2nd reunion of supervisors. The transaction is subject to approval at the 2nd extraordinary shareholders’ meeting of the investor.
Hunan Heshun Petroleum Co.,Ltd. is a China-based company primarily engaged in the wholesale and retail of refined oil products, including gasoline and diesel. The Company's business covers the procurement, storage, logistics, wholesale, and retail of refined oil products, forming a complete industrial chain in the field of refined oil distribution. The Company also operates gas stations and convenience stores and invests in gas stations and oil depots. The Company operates its businesses primarily in the domestic market.
HUNAN HESHUN PETROLEUM CO.,LTD. 