China National Building Material International Engineering Announces Progress on Investment in Sinoma Cement

China National Building Material International Engineering Co., Ltd. (CNBM International Engineering) has recently updated stakeholders on the progress of its investment in Sinoma Cement Co., Ltd. This move is part of a broader strategy to strengthen its position in the cement industry. On December 29, 2023, Sinoma Cement completed its first phase of capital increase, successfully registering the change with the market regulatory authority and obtaining a new business license. This initial investment increased Sinoma Cement's registered capital from 185.328 million yuan to 308.880 million yuan, with CNBM International Engineering holding a 40% stake.

Following this, Sinoma Cement completed another round of capital increase, further elevating its registered capital to 1 billion yuan. Shareholders, including CNBM International Engineering, subscribed to the new capital in proportion to their shareholdings, with CNBM International Engineering contributing an additional 276.448 million yuan to maintain its 40% stake.

This strategic investment underscores CNBM International Engineering's commitment to expanding its influence in the cement sector and its dedication to fostering growth and innovation within the industry.

Source: CFi.CN