Shanghai Emperor of Cleaning Hi-Tech Co., Ltd announced that it expects to receive CNY 700 million in funding
January 16, 2023
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Shanghai Emperor of Cleaning Hi-Tech Co., Ltd announced a private placement for an aggregate gross proceeds of not more than CNY 700 million on January 17, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors. The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 19th meeting of the fourth board of directors. The transaction is still subject to approval from general meeting of shareholders and the China Securities Regulatory Commission.
On January 17, 2023, the company announced that the 15th session of the company's 4th supervisory board approved the 2023 private placement preliminary plan.
Shanghai Emperor of Cleaning Hi-Tech Co., Ltd is a China-based company which is mainly engaged in water processing service. The Company mainly has two business segments. The Water Processing Service segment is engaged in the operation and management of water treatment system, sales of chemicals and integration of water treatment equipments. The Duct Cleaning service segment is mainly engaged in the duct cleaning for the customerâs central air conditionings. The Companyâs main product brands include ECH, Emperor of Cleaning and others.