Xingyuan Environment Technology Co., Ltd. announced that it expects to receive CNY 1.431056536 billion in funding from New Hope Investment Group Co., Ltd., South Hope Enterprises Co., Ltd.
November 14, 2020
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Xingyuan Environment Technology Co., Ltd. announced that it will issue not more than 466,142,194 A shares at a price of CNY 3.07 per share for gross proceeds of not more than CNY 1,431,056,500 on November 14, 2020. The transaction will include participation from existing investor New Hope Investment Group Co., Ltd. for 49,944,297 shares and new investor 416,197,897 shares. The company has signed a share subscription agreement with the investors. The shares issued are subject to restriction period of 36 months from closing of the transaction. The transaction has been approved at 19th meeting of 4th board of directors and is subject to approval from shareholders, Shenzhen stock exchange and the China Securities Regulatory Commission.
Xingyuan Environment Technology Co., Ltd., formerly Hangzhou Xingyuan Filter Technology Co., Ltd., is a China-based company principally engaged in the ecological environment construction business. The Company is mainly engaged in the landscape construction and design business. The Company is also involved in municipal sewage and industrial wastewater treatment business, river and lake reservoir dredging and treatment business, environmental protection equipment sales business, environmental protection engineering business and water quality monitoring Internet of Things (IoT) management and control platform business.
Xingyuan Environment Technology Co., Ltd. announced that it expects to receive CNY 1.431056536 billion in funding from New Hope Investment Group Co., Ltd., South Hope Enterprises Co., Ltd.