Baosheng Science and Technology Innovation Co., Ltd. and Shanghai Falcon Group Industries Development Co., Ltd. cancelled the acquisition of 80% stake in Baosheng Cable Technology Co., Ltd. from Shanghai Yalong Cable Co., Ltd.
January 03, 2018
Share
Baosheng Science and Technology Innovation Co., Ltd. (SHSE:600973) and Shanghai Falcon Group Industries Development Co., Ltd. agreed to acquire 80% stake in Baosheng (Shanghai) Cable Technology Co., Ltd. from Shanghai Yalong Cable Co., Ltd. for nil consideration on January 4, 2017. Under the transaction, Baosheng Science and Technology Innovation Co., Ltd. will acquire 60% stake and Shanghai Falcon Group Industries Development Co., Ltd. will acquire 20% stake. The transaction does not require approval from Board of Baosheng Science and Technology Innovation Co., Ltd.
Baosheng Science and Technology Innovation Co., Ltd. (SHSE:600973) and Shanghai Falcon Group Industries Development Co., Ltd. cancelled the acquisition of 80% stake in Baosheng (Shanghai) Cable Technology Co., Ltd. from Shanghai Yalong Cable Co., Ltd. on January 4, 2018.
Baosheng Science and Technology Innovation Co Ltd is a China-based company mainly engaged in the research and development, production and sales of cables and wires. The Company mainly provides bare conductors and their products, power cables, cables for electrical equipment, communication cables and optical cables and offshore wind power. The Company mainly conducts business in the domestic and foreign markets.
Baosheng Science and Technology Innovation Co., Ltd. and Shanghai Falcon Group Industries Development Co., Ltd. cancelled the acquisition of 80% stake in Baosheng Cable Technology Co., Ltd. from Shanghai Yalong Cable Co., Ltd.
BAOSHENG SCIENCE AND TECHNOLOGY INNOVATION CO.,LTD. 
