Shanghai Mengke Information Technology Co., Ltd. announced that it expects to receive funding from Argus Textile Chemicals Co.,Ltd.
January 26, 2021
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Shanghai Mengke Information Technology Co., Ltd. announced a private placement of common shares on January 27, 2021. The transaction will involve participation from existing investor, Argus (Shanghai) Textile Chemicals Co.,Ltd. (SHSE:603790). Post-closing of the transaction, the registered capital of the company will increase from CNY 5,000,000 to CNY 25,000,000. Post-closing, the investor will continue to retain its 100% stake in the company. The transaction has been approved at the seventh meeting of the fourth board of directors and the fourth meeting of the fourth board of supervisors of the investor, and does not require approval from its shareholders.
Argus Shanghai Textile Chemicals Co Ltd is a China-based company mainly engaged in the research, development, production and sales of dyes and textile auxiliaries. The Company mainly provides dyeing and finishing overall solutions with diversified products, dyeing and finishing and color digital application technology services for printing and dyeing companies and clothing fabric companies. The Company's products include dye products and textile auxiliaries. The dye products mainly include reactive dyes for cellulose, reactive dyes and acid dyes for wool, acid dyes for nylon, disperse dyes for polyester, among others. The textile auxiliary products include pre-treatment, dyeing, printing auxiliaries, functional finishing agents, silicone and wool spinning auxiliaries. The Company's products are used in the dyeing, printing and functional finishing of cellulose fibers, protein fibers, polyamide fibers and polyester fibers.
ARGUS (SHANGHAI) TEXTILE CHEMICALS CO.,LTD. 
