Shanghai Distrii Technology Development Co., Ltd. announced that it expects to receive CNY 72 million in funding from City Developments Limited
Shanghai Distrii Technology Development Co., Ltd. has entered into an agreement with new investor City Developments Limited (SGX:C09) for private placement of common shares for gross proceeds of CNY 72 million on January 19, 2017. As a part of the transaction, the investor will acquire 24% stake in the company. The transaction would take place in tranches subject to the satisfaction and/or waiver of certain conditions precedent for each tranche.