Xiwang Foodstuffs Co., Ltd. announced that it expects to receive CNY 258.82 million in funding from Xiwang Foodstuffs Co.,Ltd.
January 21, 2018
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Xiwang Foodstuffs (Qingdao) Co., Ltd. announced that it will receive CNY 258,823,500 in an equity round of funding on January 22, 2018. The transaction will include participation from existing investors; Xiwang Foodstuffs Co., Ltd. (SZSE:000639) for CNY 141,062,500. The transaction has been approved in 12th session of the 12th directorate of the Xiwang Foodstuffs Co., Ltd. Upon completion of the transaction; the company’s registered capital will increase from CNY 2,257,000,000 to CNY 2,398,062,500. Post completion of the transaction; Xiwang Foodstuffs Co., Ltd. will have a contributed capital of CNY 1,833,812,500, and Chunhua Jingxi (Tianjin) Investment Center (LP) will have a contributed capital of CNY 564,250,000. Post completion of the transaction; Xiwang Foodstuffs Co., Ltd. will continue to hold 76.4706% stake and Chunhua Jingxi (Tianjin) Investment Center (LP) will hold 23.5294% stake in the company. As part of the transaction, CNY 141,062,500 will be added as registered capital, and CNY 117,761,000 as capital reserve.
Xiwang Foodstuffs Co., Ltd. is a China-based company principally engaged in the food processing and marketing business. The Company is mainly engaged in the production and sales of corn germ oil and other edible oil products, as well as the nutritional supplements. The Company is also engaged in the research, development and sales of sports nutrition and weight management products. The Company mainly distributes its products in domestic market.