Secoo Obtains Equity Investment From New Investors

by Shivani Kumaresan, Benzinga Staff Writer

August 19, 2022 3:09 PM | 1 min read |

Luxury online shopping platform Secoo Holding Ltd SECO has entered into Share Purchase Agreements with Beijing HCYK Corporation Management Partner (HCYK) and Timing Capital Limited.
Under the agreement, HCYK will subscribe to 3.75 million Class A ordinary shares of the company for an aggregate price of $3 million.
Timing Capital will subscribe to 1.25 million Class A ordinary shares of the company for an aggregate price of $1 million.
"This important infusion will provide Secoo with the capital to implement our robust growth initiatives," said Chairman and CEO Richard Rixue Li.
Price Action: SECO shares are trading higher by 3.28% at $0.2458 on the last check Friday.