Beijing Sinnet Technology Co., Ltd announced that it expects to receive CNY 580.75 million in funding
January 30, 2018
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Beijing Sinnet Technology co., Ltd. (SZSE:300383) announced a private placement of common shares for gross proceeds of CNY 580,750,000 on January 31, 2018. The transaction will include participation from not more than 5 specific investors. The shares will not be transferred within 12 months from the date of issuance. The transaction was approved at the 2nd session of the 3rd directorate of the company. The transaction is further subject to a second approval from its directors, approval from the shareholders of the company and from the China Securities Regulatory Commission.
On March 27, 2018, the company announced that the transaction has been approved by the directors in the 4th session of the 3rd directorate meeting.
Beijing Sinnet Technology Co., Ltd. is a China-based company principally engaged in the provision of integrated Internet services. The Company provides broadband access services, Internet data center (IDC) and value-added services, IDC operation and management services, as well as cloud computing and related services, among others. The Companyâs value-added services include IDC network security services, IDC load balancing services, data flow monitoring services and reverse domain name analysis services, among others. The Company also offers network systems integration services. The Company operates businesses in Beijing, Hebei and Hong Kong.