Suqian Central International Shopping Plaza Co., Ltd announced that it expects to receive CNY 730 million in funding from Nanjing Central Emporium Stocks Co., Ltd.
March 09, 2020
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Suqian Central International Shopping Plaza Co., Ltd announced that it will receive CNY 730,000,000 in an equity round of funding from returning investor Nanjing Central Emporium (Group) Stocks Co., Ltd. (SHSE:600280) on March 10, 2020. Post the transaction, the registered capital of the company will increase from CNY 100,000,000 to CNY 830,000,000, the stake held by the investor will increase from 5% to 88.55% in the company. The transaction was approved in the 8th meeting of the 9th directorate of the investor and doesn't need approval from shareholders of the company.
On March 26, 2020, the company announced that the transaction has been approved at the second extraordinary general meeting of shareholders.
NANJING CENTRAL EMPORIUM (GROUP) STOCKS CO., LTD. is a China-based company, principally engaged in the commodities retailing business. The Company operates regular chain department stores and bulk supermarkets, which deal with shoes and hats, jewelries, watches and clocks, cosmetics, food products, communication products, men's and women's apparels, knitted underwear, household products and household electrical appliances, among others. The Company is also engaged in the development and distribution of real estates, and the provision of tourism services. It operates its businesses primarily in Jiangsu Province, Shandong Province, Henan Province, Hubei Province and Anhui Province, China.
Suqian Central International Shopping Plaza Co., Ltd announced that it expects to receive CNY 730 million in funding from Nanjing Central Emporium Stocks Co., Ltd.
NANJING CENTRAL EMPORIUM (GROUP) STOCKS CO., LTD. 
