Shenzhen Qinchengda Investment Management Co., Ltd. signed an agreement to acquire 20% stake in EGing Photovoltaic Technology Co.,Ltd. from Xun Jianhua for CNY 2.9 billion.
January 10, 2017
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Shenzhen Qinchengda Investment Management Co., Ltd. signed an agreement to acquire 20% stake in EGing Photovoltaic Technology Co.,Ltd. (SHSE:600537) from Xun Jianhua for CNY 3 billion on January 10, 2017. Under the terms of the agreement, Xun Jianhua will sell 235.27 million shares in two tranches. Xun Jianhua will transfer 89.29 million shares amounting to 7.59% stake for CNY 1.5 billion in the first tranche and 145.98 million shares amounting to 12.41% stake for CNY 1.5 billion in the second tranche.
Shenzhen Qinchengda Investment Management Co., Ltd. signed a supplemental agreement to acquire 20% stake in EGing Photovoltaic Technology Co.,Ltd. (SHSE:600537) from Xun Jianhua for CNY 2.9 billion on March 17, 2017. CNY 1.5 billion will be paid for the first tranche and CNY 1.4 billion will be paid for the second tranche of shares transfer. After completion of the transaction, Xun Jianhua will own 121.88 million shares amounting to 10.36% stake and Shenzhen Qinchengda Investment Management Co., Ltd will hold 235.27 million shares amounting to 20% stake. On April 28, 2017, the transfer of first tranche shares amounting to 89.29 million shares was completed.
EGing Photovoltaic Technology Co., Ltd. is a China-based company, principally engaged in photovoltaic industry business. Its products mainly include solar modules, including single crystal components, polycrystalline components and double glass components, solar cells, as well as silicon wafers. The Company is also engaged in power generation business and power stations construction. It distributes its products within domestic markets and to overseas markets.
Shenzhen Qinchengda Investment Management Co., Ltd. signed an agreement to acquire 20% stake in EGing Photovoltaic Technology Co.,Ltd. from Xun Jianhua for CNY 2.9 billion.