Dezhou United Petroleum Technology Co.,Ltd. (SZSE:301158) signed Stock Purchase and Sale Agreement to acquire 70% stake in IAE International Inc. from Roxanne Howe for $4.9 million on July 4, 2024. As part of acquisition, 700 shares will be acquired. After the completion of the transaction, Dezhou United Petroleum and Roxanne Howe will increase the capital of the IAE International by a total of $2 million.

As of May 31, 2024, IAE International Inc. reported total assets of $11.03 million and total common equity of $9.19 million.

The transaction is subject to approval by relevant government authorities in China and the United States. The deal has been approved by the Dezhou United Petroleum board.