Jiangxi Aoke New Material Technology Co., Ltd. announced that it expects to receive CNY 41.632653 million in funding from Jiangxi Guotai Group Co., Ltd.
September 07, 2021
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Jiangxi Aoke New Material Technology Co., Ltd. announced that it has entered into a capital increase agreement for a private placement of common shares for gross proceed of CNY 41,632,653 on September 8, 2021. The transaction will include participation from Jiangxi Guotai Group Co., Ltd. Upon completion, CNY 10,408,163 will be included in paid-in capital, and CNY 31,224,490 will be included in capital reserve, and the investor will own 51% stake in the company. The transaction has been approved at the fifteenth meeting of the fifth session of the investor.
Jiangxi Guotai Group Co., Ltd., formerly Jiangxi Guotai Industrial Explosive Group Co., Ltd., is a China-based company principally engaged in the research, development, manufacture and distribution of civil explosive products and the provision of blasting services. The Companyâs products include industrial explosives, industrial detonators, as well as industrial detonating cords, among others. The Companyâs products are applied in the mining operations, infrastructure construction and other related fields. The Company is also involved in the development of blasting operation video surveillance platform and the provision of engineering installation services. The Company mainly operates its business in domestic market.
Jiangxi Aoke New Material Technology Co., Ltd. announced that it expects to receive CNY 41.632653 million in funding from Jiangxi Guotai Group Co., Ltd.
JIANGXI GUOTAI GROUP CO.,LTD. 
