Shenzhen Qianxinheng Investment Development Co., Ltd. signed the share transfer agreement to acquire 8.85% stake in Shenzhen Jasic Technology Co.,Ltd. from Xu Aiping and Pan Lei for approximately CNY 580 million.
January 19, 2017
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Shenzhen Qianxinheng Investment Development Co., Ltd. signed the share transfer agreement to acquire 8.85% stake in Shenzhen Jasic Technology Co.,Ltd. (SZSE:300193) from Xu Aiping and Pan Lei for approximately CNY 580 million on January 19, 2017. Under the terms, Xu Aiping and Pan Lei will transfer out their respective 24.96 million shares (4.91%) and 19.99 million shares (3.94%) of Shenzhen Jasic Technology to Shenzhen Qianxinheng Investment Development at a price of CNY 13 per share. Upon completion, Xu Aiping and Pan Lei will continue to hold 74.89 million shares (14.74%) and 60.01 million shares (11.81%) of Shenzhen Jasic Technology respectively.
SHENZHEN JASIC TECHNOLOGY CO.,LTD. is a China-based company principally engaged in the research, development, manufacture and sales of welding and cutting equipment. The Company's main products are mainly inverter welding machines and welding accessories, including direct current (DC) manual arc welding machines, DC tungsten arc welding machines, alternating current (AC) and DC square wave tungsten arc welding machines, carbon dioxide (CO2) gas shielded welding machines, pulse metal inert gas (MIG) welding machines, double pulse MIG welding machines, DC submerged arc welding machines, double wire AC/DC submerged arc welding machines, air plasma cutter and multi-function welding machines. The Company distributes its products in domestic market and to overseas markets.
Shenzhen Qianxinheng Investment Development Co., Ltd. signed the share transfer agreement to acquire 8.85% stake in Shenzhen Jasic Technology Co.,Ltd. from Xu Aiping and Pan Lei for approximately CNY 580 million.
SHENZHEN JASIC TECHNOLOGY CO.,LTD. 
