Changlong Agrochemicals got USD5.53 million of capital increase
Date:06-22-2017
By Think Real - On 24 May, 2017, Chinese agrochemical company Beijing Nutrichem Laboratory Co., Ltd. (Nutrichem) issued a notice that its wholly-owned subsidiary, Shandong Fuer Co., Ltd. (Shandong Fuer), was going to raise capital to the holding subsidiary company Jiangsu Changlong Agrochemicals Co., Ltd. (Changlong Agrochemicals). After the capital increase, registered capital of Changlong Agrochemicals increased from USD37.6 million to USD43.1 million.
The fund of this capital increase is paid by the major shareholder of company according to the proportion of shares held. Jiangxi Heyi Chemical Co., Ltd. (Heyi Chemical) invested USD2.7 million, Shandong Fuer invested USD2.1 million. Before and after the capital increase, the key shareholders of Changlong Agrochemicals remain Heyi Chemical (holding 49.0%) and Shandong Fuer (holding 38.0%).
Nutrichem said that this investment was conducive to enhancing the capital strength of Changlong Agrochemicals, expanding the scale of business and improving market competitiveness. At the same time, it is beneficial for Nutrichem to improve its own overall business development and enhance profitability. Besides it will not have a significant adverse impact to the company's financial situation and operating result.
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