Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management Co., Ltd. cancelled the acquisition of a 5.44% stake in AA Industrial Belting Co.,Ltd from Tu Mulin.
April 25, 2023
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Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management (Beijing) Co., Ltd. agreed to acquire 5.44% of stake in AA Industrial Belting (Shanghai) Co.,Ltd (SHSE:603580) from Tu Mulin for approximately CNY 100 million on December 19, 2022. Under the terms, CNY 14.32 per shares in cash will be given for 7.10 million shares. Currently Tu Mulin holds 33.75% stake and post completion will hold Tu Mulin 28.31% stake in AA Industrial Belting.
Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management (Beijing) Co., Ltd. cancelled the acquisition of a 5.44% stake in AA Industrial Belting (Shanghai) Co.,Ltd (SHSE:603580) from Tu Mulin on April 26, 2023.
AA Industrial Belting (Shanghai) Co., Ltd. is a China-based company mainly engaged in the research, development, manufacture and distribution of light conveyor belts. The Companyâs products mainly consist of general high polymer materials light industrial belts, environment friendly high polymer materials precision industrial belts, aramid fiber industrial belts and others. The Companyâs products are used in aluminum processing, textile dyeing and finishing, food processing, logistics and transportation, agricultural products processing, entertainment and fitness, wood processing, electronic manufacturing, printing and packaging industries and other fields.
Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management Co., Ltd. cancelled the acquisition of a 5.44% stake in AA Industrial Belting Co.,Ltd from Tu Mulin.