Jinan Lumintou Jinhu Investment Partnership Enterprise (Limited Partnership) agreed to acquire an additional 5.93% stake in Shandong Rike Chemical Co.,LTD. from Zhao Dongri for approximately CNY 190 million.
January 07, 2019
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Jinan Lumintou Jinhu Investment Partnership Enterprise (Limited Partnership) agreed to acquire an additional 5.93% stake in Shandong Rike Chemical Co.,LTD. (SZSE:300214) from Zhao Dongri for approximately CNY 190 million on December 22, 2018. Under the terms, 25.3 million shares will be acquired at CNY 7.69 per share. Upon completion, Jinan Lumintou Jinhu Investment Partnership Enterprise (Limited Partnership)'s stake in Shandong Rike Chemical Co.,LTD. will increase from 8.64% to 14.58%. The transfer price will be paid using self-owned or self-financed funds. On December 22, 2018, the executive partner of Jinan Lumintou Jinhu Investment Partnership Enterprise (Limited Partnership) held a special shareholders’ meeting and approved the transaction.
Shandong Rike Chemical Co.,LTD. is a China-based company principally engaged in the research, development, production and sale of polyvinyl chloride (PVC) plastic modifier products. The Company's main products include Acrylic Additives (ACR) Impact Modifier, Acrylic chlorinated polyethylene Modifier (ACM) Low Temperature Toughening Agent and Acrylic-Methyl Methacrylate-Butadiene (AMB) Impact Modifier. The Company's products are mainly used in various kinds of plastic profiles, pipes, plates, profiles and foam materials. The Company distributes its products in domestic market and to overseas markets.
Jinan Lumintou Jinhu Investment Partnership Enterprise (Limited Partnership) agreed to acquire an additional 5.93% stake in Shandong Rike Chemical Co.,LTD. from Zhao Dongri for approximately CNY 190 million.
SHANDONG RIKE CHEMICAL CO.,LTD. 
