Shanghai KBE New Energy Technology Co., Ltd announced that it expects to receive CNY 215.8837 million in funding from Ningbo KBE Electrical Technology Co.,Ltd.
August 28, 2020
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Shanghai KBE New Energy Technology Co., Ltd announced that it will receive CNY 215,883,700 in an equity round of funding on August 28, 2020. The transaction will include participation from returning investor Ningbo KBE Electrical Technology Co.,Ltd. (SZSE:300863) to retain its 100% stake in the company. Out of the total CNY 90,000,000 will go towards registered capital and CNY 125,883,700 will go towards capital reserve. Post completion of the transaction, the registered capital of the company will increase from CNY 10,000,000 to CNY 100,000,000. The transaction has been approved by the board of directors of Ningbo KBE Electrical Technology Co.,Ltd. in the tenth meeting of the second board of directors and the sixth meeting of the second board of supervisors.
Ningbo KBE Electrical Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of automotive cables. The Company's main products include conventional cables and special cables. Conventional cables include polyvinyl chloride (PVC) low-voltage cables and cross-linked high-temperature cables. Special cables include aluminum cables, paired-pair cables, shielded cables, new energy cables, multi-core sheathed cables, silicone rubber cables, coaxial cables, data transmission cables and charging cables. The Company mainly conducts its businesses within the domestic market.
Shanghai KBE New Energy Technology Co., Ltd announced that it expects to receive CNY 215.8837 million in funding from Ningbo KBE Electrical Technology Co.,Ltd.