Jiangsu xinrui Aromatics Limited announced that it expects to receive CNY 135.084 million in funding from Givaudan SA, Zhejiang Xinhua Chemical Co.,Ltd
July 13, 2022
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Jiangsu Xinrui Aromatics Co., Ltd. announced that it will receive an equity round of funding on July 14, 2022. The transaction will include participation from returning investors Givaudan SA for $9,800,000 (CNY 66,191,160) and Zhejiang Xinhua Chemical Co.,Ltd. for $10,200,000(CNY 68,892,840) to retain their 49% and 33% stake holdings in the company, respectively. The transaction has been approved in the 17th session of the 5th directorate and by the 16th session of the 5th supervisory board of Zhejiang Xinhua Chemical Co.,Ltd and still needs to be approved by the Zhejiang Xinhua Chemical Co.,Ltd.'s shareholders' meeting.
The transaction has been approved by the shareholders in the first extraordinary general meeting of shareholders held on July 29, 2022.
Zhejiang Xinhua Chemical Co., Ltd. is a China-based company principally involved in the manufacture and sales of fatty amines, organic solvents, perfume flavors, hydrogen peroxide and other fine chemical products. The Company's main products are isopropylamine, monoethylamine, diethylamine, triethylamine, isopropanol, sandalwood 208, dihydromyrcenol and hydrogen peroxide, among others. The Company operates its businesses primarily in Mainland China.
Jiangsu xinrui Aromatics Limited announced that it expects to receive CNY 135.084 million in funding from Givaudan SA, Zhejiang Xinhua Chemical Co.,Ltd