Nantong Metalforming Equipment Co., Ltd. signed the conditional assets acquisition agreement to acquire Shanghai Run Advertising Co., Ltd. from Li Jingdong and Gao Xiang for approximately CNY 300 million.
January 25, 2016 at 04:00 am
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Nantong Metalforming Equipment Co., Ltd. (SZSE:300280) signed the conditional assets acquisition agreement to acquire Shanghai Run Advertising Co., Ltd. from Li Jingdong and Gao Xiang for approximately CNY 300 million in cash and stock on January 22, 2016. Nantong Metalforming will pay CNY 169.2 million in cash and issue 5.66 million shares at CNY 19.92 per share to Li Jingdong and pay CNY 18 million in cash to Gao Xiang. In related transactions, Nantong Metalforming Equipment Co., Ltd. signed the conditional assets acquisition agreement to acquire Beijing Wezonet Technology Co., Ltd. from Tianjin Taiyangshi Technology Partnership (Limited Partnership) and Jinyu Tengda (Tianjin) Asset Management Partnership (Limited Partnership); and Nantong Metalforming Equipment Co., Ltd. signed the conditional assets acquisition agreement to acquire All Ways Advertising Co., Ltd. from Jiujiang Wuyuan Huijin Investment Management Center (Limited Partnership) and Gu Yuzhou. Nantong Metalforming Equipment will raise CNY 1.35 billion from 4 specific investors and the partial proceeds will be used for the payment of the cash consideration in the transaction.
Shanghai Run Advertising reported total assets of CNY 33.37 million, total equity attributable to the shareholders of the parent company of CNY 22.72 million, revenue of CNY 49.79 million and net profit attributable to the shareholders of the parent company of CNY 12.9 million as of December 31, 2015. The deal is subject to second approval of the Board of Directors of Nantong Metalforming Equipment, approval of the shareholders' meeting of Nantong Metalforming Equipment and approval of the CSRC. The deal was approved by the shareholders of Shanghai Run Advertising Co., Ltd. on January 22, 2016. The deal was approved by the Board of Directors of Nantong Metalforming Equipment on January 23, 2016. Nantong will raise up to CNY 917.9 million via private placement, instead of CNY 1.35 billion to fund the acquisition.
New times Securities Co., Ltd. acted as financial advisor, AllBright Law Offices acted as legal advisor and Zhonghui Certified Public Accountants (Special General Partnership) acted as accountant for Nantong Metalforming Equipment Co., Ltd.
Fujian Zitian Media Technology Co Ltd is a China-based company mainly engaged in advertising services. The Company is mainly engaged in Internet marketing and data service related businesses. The Company serves e-commerce, games, applications and other fields. The Company's advertising business is programmatic advertising after integrating a large number of advertisers. The Company mainly conducts its business in the domestic market.
Nantong Metalforming Equipment Co., Ltd. signed the conditional assets acquisition agreement to acquire Shanghai Run Advertising Co., Ltd. from Li Jingdong and Gao Xiang for approximately CNY 300 million.
FUJIAN ZITIAN MEDIA TECHNOLOGY CO., LTD. 
