Beijing Xiangguang Tongda International Investment Management Co., Ltd agreed to acquire 5% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd from Tibet Xinhai New Venture Capital Co., Ltd. for CNY 430 million.
September 16, 2021
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Beijing Xiangguang Tongda International Investment Management Co., Ltd agreed to acquire 5% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd (SHSE:603959) from Tibet Xinhai New Venture Capital Co., Ltd. for CNY 430 million on September 14, 2021. Under the terms Beijing Xiangguang Tongda International Investment Management Co., Ltd will acquire 24.5 million shares for CNY 17.52 per share. The first share transfer price is CNY 250 million, and the transferee shall make a lump-sum payment to the bank account designated by the transferor within the next working day after obtaining the Shanghai Stock Exchange's compliance review confirmation letter. The second share transfer price is CNY 179.5 million and the transferee shall make a lump-sum payment to the bank account designated by the transferor before December 31, 2022. In a related transaction the controlling shareholder sells another 6% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd.
Hunan Baili Engineering Sci & Tech Co Ltd is a company mainly providing engineering general contract services. The Company's businesses include engineering general contract, engineering consulting and design, as well as sales of lithium battery equipment. The engineering general contract business mainly provides related services in petrochemical industry, and its modes include engineering procurement construction (EPC), engineering procurement construction management (EPCM). The engineering consulting and design business provides the clients with engineering consulting services, design documents, design papers and other design related services. The lithium battery equipment business is engaged in the production and sales of equipment used for manufacturing lithium batteries, including intelligent feeding systems and high vacuum drying systems. The Companyâs services are mainly used in petrochemical, lithium battery materials and hydrogen fuel cell materials industries.
Beijing Xiangguang Tongda International Investment Management Co., Ltd agreed to acquire 5% stake in Hunan Baili Engineering Sci&Tech Co.,Ltd from Tibet Xinhai New Venture Capital Co., Ltd. for CNY 430 million.