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Guantao advises COFCO Futures on completing a RMB 950 Million capital increase

COFCO Capital Holdings Co., Ltd. ("COFCO Capital") convened the 16th meeting of its 5th Board of Directors, during which it reviewed and approved the Proposal on the Capital Increase of the Wholly-Owned Subsidiary to COFCO Futures Co., Ltd.  To further strengthen the capital strength of COFCO Futures Co., Ltd. ("COFCO Futures"), enhance its risk resilience and market competitiveness, and better serve the real economy, COFCO Capital Investment Co., Ltd., a wholly-owned subsidiary of COFCO Capital, plans to inject RMB 950 million of its own funds into COFCO Futures as a capital increase.

COFCO Capital Investment Co., Ltd. and COFCO Futures have entered into the Capital Increase Agreement, under which COFCO Capital Investment Co., Ltd. will unilaterally inject RMB 950 million in cash into COFCO Futures through a non-public agreement to increase its capital. Based on the valuation report issued by ‌Beijing China Enterprise Appraisals Co., Ltd.‌ with an valuation date of December 31, 2023, the registered capital of COFCO Futures will increase by ‌RMB 155.2532 million‌, while the remaining ‌RMB 794.7468 million‌ will be allocated to COFCO Futures’ capital reserve.  China Life Insurance Company Ltd.‌, another shareholder of COFCO Futures, has waived its preemptive right to subscribe to the newly added registered capital.  Following this capital increase, COFCO Futures’ registered capital will rise from ‌RMB 846.20 million‌ to ‌RMB 1,001.4532 million‌.

Guantao partner Song Jia served as legal counsel to ‌COFCO Futures, the target company in this transaction, provided ‌end-to-end, comprehensive, and professional legal services‌ for the deal.  These services included ‌transaction structure design‌, ‌drafting, revising, and negotiating transaction documents and other related support.