Jiangsu Huaying Enterprise Management Co., Ltd. completed the acquisition of 17.1% stake in Yongyue Science&Technology Co.,Ltd from Fu Wenchang, Fu Shuifa, Fu Wenying and Chen Zhishan.
January 19, 2021
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Jiangsu Huaying Enterprise Management Co., Ltd. signed a share transfer intention agreement to acquire 17.1% stake in Yongyue Science&Technology Co.,Ltd (SHSE:603879) from Fu Wenchang, Fu Shuifa, Fu Wenying and Chen Zhishan for approximately CNY 620 million on November 11, 2020. Under the terms of the transaction, Jiangsu Huaying will acquire 47.8 million shares of Yongyue Science&Technology for CNY 12.8 per share. Within 3 working days from the date of signing the agreement, a deposit of CNY 100 million shall be paid. Before the transaction, Fu Wenchang, Fu Shuifa, Fu Xiuzhen and Fu Wenying held 102.9 million shares or 36.83% stake while Chen Zhishan held 37.6 million shares or 13.46% stake in in Yongyue Science&Technology. Upon completion of the transaction, Fu Wenchang, Fu Shuifa, Fu Xiuzhen and Fu Wenying will hold 64.5 million shares or 23.08% stake while Chen Zhishan will hold 28.2 million shares or 10.1% stake.
Jiangsu Huaying Enterprise Management Co., Ltd. completed the acquisition of 17.1% stake in Yongyue Science&Technology Co.,Ltd (SHSE:603879) from Fu Wenchang, Fu Shuifa, Fu Wenying and Chen Zhishan on January 20, 2021.
YONGYUE SCIENCE&TECHNOLOGY CO., LTD is a China-based company principally engaged in the research and development, production and sales of synthetic resin products. The Company's main products include unsaturated polyester resins, polyurethanes and expandable polystyrene. Its unsaturated polyester resins mainly include artificial stone resins, handicraft resins, coating resins, bathroom resins, color base resins and general glass fiber reinforced plastics. The Company mainly distributes its products in domestic and overseas markets.
Jiangsu Huaying Enterprise Management Co., Ltd. completed the acquisition of 17.1% stake in Yongyue Science&Technology Co.,Ltd from Fu Wenchang, Fu Shuifa, Fu Wenying and Chen Zhishan.