Changchun Huayang High-tech Co., Ltd. announced that it has received CNY 55.5 million in funding from Tonghua Golden-Horse Pharmaceutical Industry Co., Ltd.
January 18, 2016 at 12:00 am EST
Changchun Huayang High-tech Co., Ltd. announced that it has entered into a capital increase agreement with new investor, Tonghua Golden-Horse Pharmaceutical Industry Co., Ltd. and will receive CNY 55.5 million in an equity round of funding on January 18, 2016. Out of total funding, CNY 7.5 million will be added to the registered capital and remaining to the capital reserve. The investor will acquire 60% stake in the company through this transaction. The transaction has been approved at the 1st special session of the 8th directorate for 2016 of the investor and does not need its shareholders' approval.