Yueyang Xingchang Petro-Chemical Co., Ltd. announced that it expects to receive CNY 1 billion in funding from Sinopec Assets Management Co., Ltd., China Petrochemical Corporation
October 12, 2022
Share
Yueyang Xingchang Petro-Chemical Co., Ltd. announced a private placement of not more than 61,265,051 common shares for the gross proceeds of not exceeding CNY 1,000,000,000 on October 13, 2022. The transaction includes participation from Sinopec Assets Management Co., Ltd. and not more than 35 investors. The transaction has been approved at the 21st meeting of the 15th board of directors of the company and is subject to approval of the China Securities Regulatory Commission.
On November 3, 2022, the company held its 64th extraordinary general meeting and approved the transaction.
YUEYANG XINGCHANG PETRO-CHEMICAL CO., LTD. is a China-based company principally engaged in the development, production and distribution of petroleum chemical products. The Company's main products include refined products, o-cresol isobutylene, polypropylene resin powder, liquefied gas, propylene, methyl tertiary butyl ether (MTBE), industrial methanol, industrial hydrogen and non-woven fabric, among others. The Company operates its business in domestic market, with Hunan Province, China as its main market.
Yueyang Xingchang Petro-Chemical Co., Ltd. announced that it expects to receive CNY 1 billion in funding from Sinopec Assets Management Co., Ltd., China Petrochemical Corporation
YUEYANG XINGCHANG PETRO-CHEMICAL CO., LTD. 
