Shandong Luxin Financial Holdings Co., Ltd. announced that it expects to receive CNY 194.9916 million in funding from Luxin Venture Capital Group Co., Ltd., Shandong Luxin Investment Holdings Group Co., Ltd.
January 10, 2020
Share
Shandong Luxin Financial Holdings Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 194.9916 million on January 10, 2020. The transaction will include participation from returning investors Luxin Venture Capital Group Co., Ltd. (SHSE:600783) for CNY 166.5 million and Shandong Luxin Investment Holdings Group Co., Ltd. for CNY 28.4916 million. Post- closing of the transaction, registered capital of the company will increase to CNY 860.050886. There will be no change in the stake acquired by the investors. The transaction has been approved at the 9th meeting of the Luxin Venture Capital Group Co., Ltd.'s (SHSE:600783) 10th directorate and does not need the shareholder's approval.
Luxin Venture Capital Group Co Ltd is a Chinese company mainly engaged in venture capital business and Grinder Industrial Operations. The Company operates through two segments. The Investment Segment is principally engaged in equity investments in new ventures. The Company's key investment areas include information technology, energy conservation and environmental protection, new energy, new materials, biomedicine, high-end equipment manufacturing and other industries. The Grinder Segment is mainly engaged in the production and sales of grinding and abrasive cloth. Its downstream customers are mainly military industry, automobile parts processing, aerospace, and precision processing enterprises.
Shandong Luxin Financial Holdings Co., Ltd. announced that it expects to receive CNY 194.9916 million in funding from Luxin Venture Capital Group Co., Ltd., Shandong Luxin Investment Holdings Group Co., Ltd.
LUXIN VENTURE CAPITAL GROUP CO., LTD. 
