Longbai Sichuan Titanium Industry Co., Ltd. announced that it expects to receive CNY 369.883807 million in funding from Lomon Billions Group Co., Ltd.
March 24, 2021
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Longbai Sichuan Titanium Industry Co., Ltd. announced that it will receive CNY 369,883,807.20 in an equity round of funding on March 24, 2021. The transaction will include participation from returning investor, Lomon Billions Group Co., Ltd. (SZSE:002601) to retain 100% stake in the company. The capital increase price is CNY 1 per share. The transaction has been approved at the sixteenth meeting of the seventh board of directors, sixteenth meeting of the seventh board of supervisors of the investor and does not need to be submitted to its shareholders. Post to the transaction, the registered capital of the company will increase from CNY 430,116,192.80 to CNY 800,000,000.
LB Group Co Ltd, formerly Lomon Billions Group Co Ltd, is a China-based company principally engaged in the manufacture and distribution of fine chemical products. The Company's main products include titanium dioxide, primarily consisting of rutile type titanium dioxide, which is applied in paints, plastics, paper making, rubber, printing oil, chemical fiber, ceramics and cosmetics industries, among others, as well as zirconium products and aluminum sulfate, among others. The Company distributes its products in domestic and overseas markets.