Road Environment Technology Co.,Ltd. announced that it has received CNY 113.179187 million in funding
April 16, 2023
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On April 17, 2023, Road Environment Technology Co.,Ltd., closed the transaction. The company issued 8,340,397 shares at a price of CNY 13.57 per share for the gross proceeds of CNY 113,179,187.29. As a part of transaction, the company will pay an issue expenses CNY 4,153,999.33 the actual net amount of funds raised was CNY 109,025,187.96. The company announced that the transaction has been approved by the China Securities Regulatory
Commission for issuance no. 799 [2023].
On May 22, 2023, the transaction has been approved by the board of directors of the company.
On May 25, 2023, the registration procedures for the newly issued shares were completed at China Securities Depository and Clearing Co., Ltd. Shanghai Branch. Prior to issuance, Ji Guangming owns 19,537,400 shares in the company, accounting for 21.15% stake. After the issuance, Ji Guangming owns 27,877,797 shares in the company, accounting for 27.68% stake.
Road Environment Technology Co Ltd is a China-based company mainly engaged in the research and development and industrial application of food and beverage residues, high-concentration brewing wastewater, sludge and solid waste harmless treatment and resource utilization technology. The Company focuses on the treatment and utilization of high water content waste such as distiller's grains, brewing wastewater, river and lake sludge, and engineering mud. Its main products and services include production and sales of distiller's grain bio-fermentation feed, river and lake sludge, and engineering mud treatment services. The Company primarily operates in the domestic market.
ROAD ENVIRONMENT TECHNOLOGY CO.,LTD. 
