Ningxia Xinhua Chemical Co., Ltd. announced that it expects to receive CNY 60 million in funding from Zhejiang Xinhua Chemical Co.,Ltd
October 15, 2020
Share
Ningxia Xinhua Chemical Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 60,000,000 on October 16, 2020. The transaction will involve participation from existing investor, Zhejiang Xinhua Chemical Co.,Ltd (SHSE:603867). Post-closing of the transaction, the registered capital of the company will increase from CNY 100,000,000 to CNY 160,000,000. Post-closing, Zhejiang Xinhua Chemical Co.,Ltd (SHSE:603867) will continue to retain its 100% stake in the company. The transaction has been approved at the fourth meeting of the fifth session of its board of directors.
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.