Jiangsu Shentong Valve Co., Ltd. announced that it has received CNY 462.99 million in funding
February 14, 2017
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On February 15, 2017, Jiangsu Shentong Valve Co., Ltd. (SZSE:002438) closed the transaction. The company amended the terms of the transaction and issued 23,502,538 shares at a price of CNY 19.7 per share for gross proceeds of CNY 462,999,999. The company incurred Underwriting and Sponsorship Fees of CNY 12,000,000 and other issuance expenses of CNY 1,696,908.15 as part of the transaction. The company received net proceeds of CNY 449,982,335.73 as part of the transaction. The transaction included participation from Generali China Asset Management Co., Ltd. for CNY 92,978,385.50, Essence Fund Management Co., Ltd. for CNY 81,559,989.70, Wu Jianxin for 54,799,982.50, and other investors.
Jiangsu Shentong Valve Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of industrial valves. The Company provides BFG all dry dust removal system, Converter gas dust and recovery system, coke oven flue gas dust removal system, special valves of gas pipeline network system, which are used for metallurgy industry, coal chemical industry, ultra (ultra) supercritical thermal power industry, LNG cryogenic valves, and petroleum and petrochemical special valves.