Suzhou Hycan Holdings Co., Ltd. acquired 5.5% stake in Changzhou Ruijie New Materials Technology Co.,Ltd. for CNY 22.2 million.
January 12, 2018
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Suzhou Hycan Holdings Co., Ltd. (SZSE:002787) signed a share transfer agreement to acquire 5.5% stake in Changzhou Ruijie New Materials Technology Co.,Ltd. for CNY 22.2 million on September 18, 2017. Suzhou Hycan Holdings Co., Ltd. will acquire 3.7 million shares of Changzhou Ruijie New Materials Technology Co.,Ltd. for CNY 6 per share. In another transaction, Suzhou Hycan Holdings Co., Ltd. has agreed to acquire 93.56% stake in Changzhou Ruijie New Materials Technology Co.,Ltd. Upon completion of both the deals, Suzhou Hycan Holdings Co., Ltd. will hold a total of 99.06% stake in Changzhou Ruijie New Materials Technology Co.,Ltd. The Merger, Acquisition and Reorganization Examination Committee of Listed Companies of the China Securities Regulatory Commission reviewed the transaction, and gave an unconditional approval on December 29, 2017.
Suzhou Hycan Holdings Co., Ltd. (SZSE:002787) completed the acquisition of 5.5% stake in Changzhou Ruijie New Materials Technology Co.,Ltd. on January 11, 2018.
Suzhou Hycan Holdings Co., Ltd., formerly Suzhou Huayuan Packaging Co Ltd, is a China-based company principally engaged in the research, design, manufacturing and sale of metal packaging products. The Company mainly manufactures chemical tanks, as well as miscellaneous cans, food cans and metal cover business.