Beijing Deqingyuan Agricultural Technology CO.,LTD. announced that it expects to receive CNY 740.8 million in funding from Beijing Originwater Technology Co., Ltd., Tibet Bihai Venture Management Partnership Enterprise
December 10, 2017
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Beijing Deqingyuan Agricultural Technology CO.,LTD. announced that it has entered into a capital increase agreement for private placement of 231,500,000 common shares at CNY 3.2 per share for gross proceeds of CNY 740,800,000 on December 11, 2017. The transaction will include participation from new investors, Beijing Originwater Technology Co., Ltd. (SZSE:300070) for 161,703,800 common shares to acquire 23% stake in the company and Tibet Bixing Venture Capital Partnership Enterprise (LP), a fund managed by Tibet Bihai Venture Management Partnership Enterprise for 69,796,200 common shares to acquire 9.93% stake in the company. The registered capital of the company will increase from CNY 471,560,000 to CNY 703,060,000. The company will issue shares at premium. Out of the total amount, CNY 231,500,000 will be added to the registered capital of the company and CNY 509,300,000 will be added to the capital reserve of the company. The transaction has been approved by the board of directors of the Beijing Originwater Technology Co., Ltd. (SZSE:300070) at its 71st session of the 3rd directorate. The transaction is not subject to shareholders’ approval of the Beijing Originwater Technology Co., Ltd. (SZSE:300070). The company has reported total assets of CNY 960,285,900, total liabilities of CNY 422,218,200 and net assets of CNY 536,657,000, operating revenue of CNY 586,629,700, total profit of CNY 3,458,700, and net profit of CNY 3,303,400 for the year ended December 31, 2016.
Beijing OriginWater Technology Co., Ltd. specializes in environmental services. The group's activity is organized around three areas:
- industrial and municipal wastewater recycling and processing services;
- design and manufacturing of waste water processing equipment: primarily compact and large-scale membrane bioreactors;
- development of solid waste disposal technologies.
Beijing Deqingyuan Agricultural Technology CO.,LTD. announced that it expects to receive CNY 740.8 million in funding from Beijing Originwater Technology Co., Ltd., Tibet Bihai Venture Management Partnership Enterprise