Gansu Dunhuang Seed Group Co.,Ltd. announced that it expects to receive CNY 462.354622 million in funding from Beijing Shounong Co., Ltd
April 14, 2020
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Gansu Dunhuang Seed Group Co.,Ltd. (SHSE:600354) announced that it has entered into a conditional share subscription agreement with Beijing Shounong Co., Ltd for a private placement of not more than 158,340,624 A shares, not more than 30% of total issued share capital at a price of CNY 2.92 per share for total proceeds not exceeding CNY 462,354,622.08 on April 15, 2020. The securities issued in the transaction will be subject to a hold period of 18 months. The transaction has been approved by the board of director's of the company in it's 14th meeting of the 7th directorate and is subject to approval from company's shareholders in shareholders meeting. The transaction is still subject to China Securities Regulatory Commission, State-owned Assets Supervision and Administration Commission of Beijing, State-owned Assets Supervision and Administration Commission of Gansu and Shanghai Stock Exchange. The payment will be made within 10 days since approval from the China Securities Regulatory Commission.
Gansu Dunhuang Seed Group Co.,Ltd., formerly Gansu Dunhuang Seed Co., Ltd., is a China-based company principally engaged in seed, cotton and food processing businesses. Through its seed business, the Company primarily provides corn seeds, wheat seeds, rice seeds, as well as melon and vegetable seeds, and others. Through its food processing business, the Company primarily provides cotton protein oil and fat, dehydrated vegetables, tomato powder, tomato sauce and others.
GANSU DUNHUANG SEED GROUP CO.,LTD. 