Guoxin Investment Co., Ltd. entered into share transfer agreement to acquire 5.1% stake in Haohua Chemical Science & Technology Corp., Ltd. from China Haohua Chemical Group Co., Ltd and Haohua Chemical Corporation for approximately CNY 880 million.
October 14, 2020
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Guoxin Investment Co., Ltd. entered into share transfer agreement to acquire 5.1% stake in Haohua Chemical Science & Technology Corp., Ltd. (SHSE:600378) from China Haohua Chemical Group Co., Ltd and Haohua Chemical Corporation for approximately CNY 880 million on October 14, 2020. As per the agreement, Guoxin Investment Co., Ltd. will acquire 46 million shares at CNY 18.75 per share. China Haohua Chemical Group Co., Ltd. will dispose 23.5 million shares representing 2.5% stake of Haohua Chemical Science & Technology Corp., Ltd and Haohua Chemical Corporation will dispose 23 million share representing 2.53% stake of Haohua Chemical Science & Technology Corp., Ltd. Within 5 working days after the agreement signing, Guoxin Investment Co., Ltd. will pay 30% of the transfer price. Within 5 working days after the transfer is approved by the State-owned Assets Supervision and Administration Commission of the State Council, Guoxin Investment Co., Ltd. will pay the remaining 70%. As of December 23, 2020, the transaction was approved by State-owned Assets Supervision and Administration Commission of the State Council. The relevant shareholders still need to go to China Securities Depository and Clearing Co., Ltd. to go through the equity transfer registration procedures.
Haohua Chemical Science & Technology Corp., formerly SICHUAN TIANYI SCIENCE & TECHNOLOGY CO., LTD., is a China-based company, principally engaged in the provision of psa gas separating technology, engineering design and turnkey project in consulting, c-chemistry and fine chemical, and catalyst business. The psa gas separating technology is mainly applied in petrochemical, metallurgy, military industry and chemical industry. The Company's catalyst business is divided into two types, including nickel-based catalysts and copper catalysts.
Guoxin Investment Co., Ltd. entered into share transfer agreement to acquire 5.1% stake in Haohua Chemical Science & Technology Corp., Ltd. from China Haohua Chemical Group Co., Ltd and Haohua Chemical Corporation for approximately CNY 880 million.