Sichuan Tuopai Shede Wine Co., Ltd. announced that it expects to receive CNY 2.73 billion in funding from Sichuan Tuopai Shede Group Co., Ltd., SkyOcean Holdings Co., Ltd., Daoming Linghuo Peizhi Private Placement Investment Fund, Hongyi Zunxiang Private Placement Securities Investment Fund
January 19, 2017
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Sichuan Tuopai Shede Wine Co., Ltd. (SHSE:600702) announced a private placement of 131,970,046 A shares at a price of CNY 20.70 per share for gross proceeds of up to CNY 2,731,779,994 on January 20, 2017. The transaction will include participation from Sichuan Tuopai Shede Group Co., Ltd., SkyOcean Holdings Co., Ltd., Daoming Linghuo Peizhi Private Placement Investment Fund, and Hongyi Zunxiang Private Placement Securities Investment Fund for 67,258,937 shares, 45,387,439 shares, 14,492,753 shares, and 4,830,917 shares respectively. The transaction has been approved by the board of directors of the company at its 15th session of the 8th directorate meeting. The company has signed a share subscription agreement with the investors. The shares cannot be transferred within 36 months from the share listing date. The transaction is subject to the approval from its shareholders and China Securities Regulatory Commission.
Shede Spirits Co., Ltd., formerly Sichuan Tuopai Shede Spirits Co., Ltd., is a China-based company, principally engaged in the production and distribution of liquor products. The Company primarily provides Tianzhihu, Tunzhihu, Shede, Taozui, Tuopai Tianqu, Tuopai Tequ, Tuopai Youqu and Tuopai Daqu liquor. In addition, the Company also involves in the manufacture and distribution of pharmaceutical products. The Company distributes its products mainly in Suining and Chengdu, Sichuan province.