Jiangsu Tianwo Heavy Industry Science and Technology Co., Ltd. announced that it expects to receive CNY 85 million in funding from Jiangsu Wuyang Parking Industry Group Co.,Ltd.
May 17, 2020
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Jiangsu Tianwo Heavy Industry Science and Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 85 million on May 18, 2020. The transaction will include participation from existing investor, Jiangsu Wuyang Parking Industry Group Co.,Ltd. (SZSE:300420) to retain its 100% stake in the company. The registered capital of the company will increase from CNY 30 million to CNY 115 million. The transaction has been approved the investor's 23rd Meeting of the 3rd Directorate and the 15th Meeting of the 3rd Supervisory Board, and do not need the Shareholders’ Approval.
Jiangsu Wuyang Automation Control Technology Co Ltd, formerly Jiangsu Wuyang Parking Industry Group Co Ltd, is a China-based company principally engaged in the research and development, design, production and sale of bulk materials handling devices and related equipment. The Company's manufacturing business includes core bulk material handling equipment, mechanical parking equipment, automated production line equipment, intelligent logistics and warehousing systems, two-station and machine-made sand equipment. The Company's investment and operation business includes urban parking resource acquisition and parking lot operation and management.
Jiangsu Tianwo Heavy Industry Science and Technology Co., Ltd. announced that it expects to receive CNY 85 million in funding from Jiangsu Wuyang Parking Industry Group Co.,Ltd.
JIANGSU WUYANG AUTOMATION CONTROL TECHNOLOGY CO., LTD. 
