Qingdao CHOHO Industrial Co., Ltd announced that it has received $28.2 million in funding from Qingdao Choho Chain Transmission Co., Ltd, Qingdao Choho International Trade Co., Ltd.

Qingdao CHOHO Industrial Co., Ltd announced a private placement of common shares for the gross proceeds of $28.2 million on October 26, 2022. The transaction included participation from Qingdao Choho Chain Transmission Co., Ltd for 1,769,458 shares holding 9.8338% stake and Qingdao Choho International Trade Co., Ltd. for 176,946 shares holding 0.9834% stake. The transaction has been approved in the 17th session of the company's 3rd directorate.

The registered capital of the company is THB 179,935,500($5,539,300).