Baoxiniao Holding Co., Ltd. announced that it expects to receive CNY 879.999999 million in funding
May 09, 2021
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Baoxiniao Holding Co., Ltd. announced that it has entered into a subscription agreement of common share (A share) of 272,445,820 Shares at a price of CNY 3.23 per share for the gross proceeds of CNY 880,000,000 on May 10, 2021. The transaction included participation from returning investor Wu Zhize and other investors. The company announced that the shares subscribed must not be transferred within 36 months after the issuance completion date. The transaction was approved by the 7th directorate at the 12th session of the company. The transaction is subject to approval from company’s shareholders’ meeting and CSRC.
Baoxiniao Holding Co.,Ltd, formerly Zhejiang Baoxiniao Garment Co., Ltd, is a China-based company principally engaged in the research, development, manufacture and distribution of menâs brand clothing. The Companyâs main products include suits, trousers, shirts, T-shirts, slacks, jackets, sweaters, coats, leather shoes and ties, among others. The Company provides its garment products under the brands of Baoxiniao, HAZZYS, CAMICISSIMA, TOMBOLINI, S.ANGELO and BONO, among others. The Company distributes its products mainly in domestic market.