Beijing HHG Restaurant Management Co., Ltd. announced that it expects to receive CNY 50 million in funding from Best Food Holding Company Limited
Beijing HHG Restaurant Management Co., Ltd. announced that it has entered into a capital increase agreement with an existing investor Best Food Holding Company Limited (SEHK:1488) for the private placement of common shares for gross proceeds of CNY 50,000,000 on January 12, 2017. The investor will invest through its wholly owned subsidiary Delightful Year Holdings Limited. Out of the total proceeds, CNY 2,000,000 will be contributed to the registered capital and CNY 48,000,000 will be contributed to the capital reserve of the company.