Yuancheng Environment Co., Ltd. announced that it expects to receive CNY 397.2465 million in funding
May 11, 2022
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Yuancheng Environment Co., Ltd. announced a private placement of A shares for gross proceeds of CNY 397,246,500 on May 11, 2022. The transaction will include participation from no more than 35 specific subscribers. The number of shares to be issued shall not exceed 30% of the company's total share capital before the issuance at the issue price shall not be lower than the average stock trading price of the company in the 20 trading days before the pricing benchmark date. The transaction has been approved in the twenty-fifth meeting of the fourth session and twenty-third meeting of the third Board of Supervisors of the board of directors of company. The transaction is subject to approval from company's general meeting of shareholders and the board of directors, and China Securities Regulatory Commission. The shares shall not be transferred within 6 months from the date of the end of this offering.
On July 5, 2022, the company announced that China Securities Regulatory Commission has accepted the application materials for the administrative license for the non-public offering of stocks.
Yuancheng Environment Co Ltd, formerly Zhejiang Yuancheng Landscape Group Co., Ltd., is a China-based company principally involved in the construction of gardens, design of landscape architecture, maintenance of urban greening, cultivation of nursery stocks and provision of information services. The Company operates through two main segments. The Main Business segment is primarily involved in the design of landscape architecture, maintenance of urban greening, project construction of real estate parks and municipal gardens. The Other Business segment is primarily involved in the provision of information services and other business.