Qingdao Toly Food Co., Ltd announced that it expects to receive CNY 150 million in funding from Toly Bread Co.,Ltd.
May 20, 2020
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Qingdao Toly Food Co., Ltd announced that it will receive CNY 150 million in an equity round of funding on May 21, 2020. The transaction will include participation from returning investor, Toly Bread Co.,Ltd. (SHSE:603866) to retain its 100% stake in the company. The registered capital will increase from CNY 100 million to CNY 250 million post closing of the transaction. The transaction has been approved at the 15th meeting of the 5th directorate of Toly Bread Co.,Ltd. (SHSE:603866).
Toly Bread Co Ltd, formerly Shenyang Toly Bread Co., Ltd., is a China-based company principally engaged in the production and sale of bakery products. The Company's major products include breads and cakes. The Company's breads consist of more than 30 products in three series, which includes soft breads, puff breads and conditioning breads. The Companyâs breads are sold under Toly brand. The Companyâs cakes are mainly developed for traditional holidays, such as moon cakes and rice dumplings.
TOLY BREAD CO.,LTD. 
