China Energy Savings Secure $50 Million Financing For New Ventures

China Energy Savings Technology, Inc., signed an underwriting agreement with a full service investment financial group providing a broad range of securities related services for raising $50 million through a private placement of preferred stock. The funds will be used

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China Energy Savings Technology, Inc., signed an underwriting agreement with a full service investment financial group providing a broad range of securities related services for raising $50 million through a private placement of preferred stock. The funds will be used to finance acquisitions of new infrastructure and energy ventures.

“We are extremely pleased to announce this proposed offering, said Kwun-Luen Siu, the newly appointed chairman and chief executive officer of the company. This financing will allow us to more aggressively pursue opportunities that we believe will drive our future growth plan.

China Energy Savings Technology, through its ownership interest in Starway Management Limited, engages in the development, manufacture, sale and distribution of energy-saving products for use in commercial and industrial settings in the People’s Republic of China.

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