Hangzhou Xiyu Enterprise Management Co., Ltd. announced that it expects to receive CNY 173.55 million in funding from Cosmos Group Co., Ltd., Zhoushan Xinyu Equity Investment Partnership
June 22, 2020
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Hangzhou Xiyu Enterprise Management Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 173.55 million on June 23, 2020. The transaction will include participation from returning investors Cosmos Group Co., Ltd. (SZSE:002133) for CNY 163.95 million and Zhoushan Xinyu Equity Investment Partnership for CNY 9.6 million. As a result, the registered capital of the target company will increase from CNY 1 million to CNY 174.55 million and will continue to operate as a subsidiary of Cosmos Group. The transaction has been approved at the 16th meeting of the 6th directorate of the investor.
Cosmos Group Co., Ltd. is a China-based company primarily engaged in the development and distribution of real estate. The Company mainly develops and distributes small and middle residential properties. The Company is also engaged in property management and leasing businesses. The Company conducts its businesses principally in Zhejiang Province, Guangdong Province and Anhui Province, China.
Hangzhou Xiyu Enterprise Management Co., Ltd. announced that it expects to receive CNY 173.55 million in funding from Cosmos Group Co., Ltd., Zhoushan Xinyu Equity Investment Partnership