China National Building Materials Green Energy Co., Ltd announced that it will receive $18,804,800 in a round of funding from new investor Tianshan Material Co., Ltd. on December 6, 2024. The company will issue common shares in the transaction. The investor will acquire 15% stake in the company.
Post the completion of the transaction, Beijing New Building Materials Co., Ltd will hold 43.35% stake in the company and Mercuria Asia Group Holdings (Pte.) Ltd. will hold 41.65% stake and the registered capital of the company will increase from $100 million to $117.6471 million. Out of the total gross proceeds, $17.6471 million will be included in the registered capital, and the remainder will be included in the capital reserve. The transaction was approved by investor's 42nd meeting of the 8th board of directors.
The company closed the transaction at the post money valuation of $125.365333 million.
