Gansu Dunhuang Seed Group Co.,Ltd. announced that it expects to receive CNY 539.941527 million in funding from Jiuquan Iron and Steel Co., Ltd.
August 29, 2020
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Gansu Dunhuang Seed Group Co.,Ltd. announced that it has signed conditional effective share subscription agreement with Jiuquan Iron and Steel (Group) Co., Ltd. for a private placement of not more than 158,340,624 A shares on August 30, 2020. As a part of the transaction, investor will acquire 23.08% stake in the company. The transaction is subject to the approval of China Securities Regulatory Commission.
Gansu Dunhuang Seed Group Co Ltd is a China-based company mainly engaged in the research and development, production, processing and sales of various types of crop seeds. The Company mainly conducts its businesses through three segments. The Seed Business segment is mainly engaged in the research and development, production, processing and sales of various types of crop seeds. The Food and Trade Business segment is mainly engaged in the production, processing and sales of dehydrated vegetables, tomato powder and tomato paste, as well as the acquisition, processing, warehousing and trading of cotton and its by-products and other agricultural products. The Other Business segment is mainly engaged in other seed-related businesses. The Company mainly conducts its businesses in domestic and overseas markets.