Xiamen Unigroup Xue Co., Ltd. announced that it expects to receive CNY 1.1 billion in funding from Tianjin Jinfeng Cultural Communication Co., Ltd. and other investors
July 19, 2020
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Xiamen Unigroup Xue Co., Ltd. (SZSE:000526) announced a private placement of not more than 28,858,532 A shares for gross proceeds of not more than CNY 1,100,000,000 on July 20, 2020. The transaction will include participation from not more than 35 investors, including Tianjin Jinfeng Cultural Communication Co., Ltd., who will subscribe to 10-45% of the issuance and has signed a share subscription agreement with the company. The shares which will be subscribed by Tianjin Jinfeng Cultural Communication Co., Ltd. cannot be transferred within 18 months and shares subscribed by other investors cannot be transferred within 6 months from the issuance closing date. The transaction has been approved at the company's 15th meeting of the 9th directorate, 7th meeting of the 9th supervisory board and is subject to approvals of the shareholders meeting, 3rd extraordinary general meeting of 2020 which will be held on August 6, 2020 and the China Securities Regulatory Commission.
Xueda Xiamen Education Technology Group Co Ltd, formerly Xiamen Unigroup Xue Co Ltd, is a China-based company mainly engaged in education services. The Company provides personalized education counseling for Chinese primary and middle school students. The Company focuses on the (kindergarten to 12th grade) K12 education and training business, mainly includes one-to-one tutoring, personalized group tutoring, full-time cultural tutoring, online school. The Company's courses also include training and counseling courses for art examination and culture courses, training and counseling courses related to the new college entrance examination, as well as expanding training and counseling products including international education, full-time primary and secondary school education and training services, and quality development. The Company is also engaged in house leasing, property management, equipment leasing business and technical services.
Xiamen Unigroup Xue Co., Ltd. announced that it expects to receive CNY 1.1 billion in funding from Tianjin Jinfeng Cultural Communication Co., Ltd. and other investors