Zhuhai Hongchang Electronic Materials Co., Ltd. announced that it expects to receive CNY 274.516788 million in funding from Epoxy Base Electronic Material Corporation Limited, Epoxy Base (H.K.) Electronic Material Limited
Zhuhai Hongchang Electronic Materials Co., Ltd. announced that it will receive $42,420,000 (CNY 274,516,788) in an equity round of funding on June 24, 2021. The transaction included participation from returning investors, Epoxy Base Electronic Material Corporation Limited (SHSE:603002) for $31,250,000 (CNY 202,231,250) and Epoxy Base (H.K.) Electronic Material Limited for $11,170,000 (CNY 72,285,538) to retain their stakes of 73.67% and 26.33% respectively. Post to the transaction, the registered capital of the company will increase from $43,480,000 (CNY 281,376,472) to $85,900,000 (CNY 555,893,260). The transaction has been approved in the twelfth session of the fifth board of directors of Epoxy Base Electronic Material Corporation Limited (SHSE:603002), does not need to be submitted to its shareholders and still needs the approval or filing of relevant departments.