Great Wall Capital Management Co., Ltd. cancelled the acquisition of 8% stake in Jiangsu Wujin Stainless Steel Pipe Group CO.,LTD. from CCB Resources Jiuxin Equity Investment Co., Ltd., managed by CCBI Investment Fund Management Co., Ltd.
April 09, 2020
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Great Wall Capital Management Co., Ltd. signed a share transfer agreement to acquire 8% stake in Jiangsu Wujin Stainless Steel Pipe Group CO.,LTD. (SHSE:603878) from CCB Resources Jiuxin (Tianjin) Equity Investment Co., Ltd., managed by CCBI Investment Fund Management (Beijing) Co., Ltd. for approximately CNY 230 million on January 9, 2020. Under the terms of the transaction, Great Wall Capital Management will acquire 7.96% stake by paying CNY 9.87 per share for total 22.8 million common shares. After completion of the transaction, CCB Resources Jiuxin (Tianjin) Equity Investment Co., Ltd., managed by CCBI Investment Fund Management (Beijing) Co., Ltd. will hold 2.9% stake in Jiangsu Wujin Stainless Steel Pipe Group.
Great Wall Capital Management Co., Ltd. cancelled the acquisition of 8% stake in Jiangsu Wujin Stainless Steel Pipe Group CO.,LTD. (SHSE:603878) from CCB Resources Jiuxin (Tianjin) Equity Investment Co., Ltd., managed by CCBI Investment Fund Management (Beijing) Co., Ltd. on April 10, 2020.
Jiangsu Wujin Stainless Steel Pipe Group Co Ltd is a company engaged in the research, development, production and sales of industrial stainless steel pipes and fittings. The company's main products are industrial stainless steel seamless pipes, industrial stainless steel welded pipes, steel pipe fittings and flanges. Its products are used in petroleum, chemical, natural gas, power equipment manufacturing and mechanical equipment manufacturing industries. The Company's products are sold in domestic and foreign markets.
Great Wall Capital Management Co., Ltd. cancelled the acquisition of 8% stake in Jiangsu Wujin Stainless Steel Pipe Group CO.,LTD. from CCB Resources Jiuxin Equity Investment Co., Ltd., managed by CCBI Investment Fund Management Co., Ltd.