- 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.
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