Shandong Railway Development Fund Co., Ltd. agreed to acquire 5.45% stake in Beijing Century Real Technology Co., Ltd. from Niu Junjie and Wang Tie for approximately CNY 130 million.
November 04, 2019
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Shandong Railway Development Fund Co., Ltd. agreed to acquire 5.45% stake in Beijing Century Real Technology Co., Ltd. (SZSE:300150) from Niu Junjie and Wang Tie for approximately CNY 130 million on November 5, 2019. As per terms, Shandong Railway Development Fund Co., Ltd. will acquire 31.91 million shares at CNY 4.14 per share. As per terms of consideration, CNY 66.05 million will be paid within 10 days after the signing of the agreement and remaining CNY 66.05 million will be paid within 5 days after the completion of the transfer of shares. Niu Junjie will sell 24.89 million shares representing 4.25% stake and post completion, he will reduce his stake in Beijing Century Real Technology Co., Ltd. from 19.63% to 15.37%. Wang Tie will sell 7.02 million shares representing 1.2% stake and post completion, he will reduce his stake in Beijing Century Real Technology Co., Ltd. from 13.43% to 12.23%.
Beijing Century Real Technology Co.,Ltd. is a China-based company principally engaged in the development, production and distribution of railway operation safety monitoring system software products, as well as in the provision of integrated railway operation and maintenance services. The Companyâs products mainly include railway train operation safety monitoring systems, railway integrated operation and maintenance systems, railway communication systems, other related railway information system products, water conservancy products and communication operator products, among others. The Company is also involved in the provision of related safety monitoring system integration, technical training, technical consulting and technical supporting services. The Company operates its business mainly in domestic market.
Shandong Railway Development Fund Co., Ltd. agreed to acquire 5.45% stake in Beijing Century Real Technology Co., Ltd. from Niu Junjie and Wang Tie for approximately CNY 130 million.