Wang Baoqing, Lu Bin, Cheng Zhangwen and Xi Chao completed the acquisition of a 21.36% stake in Neway Valve Co., Ltd. from Neway Group Co., Ltd.
July 06, 2022
Share
Wang Baoqing, Lu Bin, Cheng Zhangwen and Xi Chao entered into an agreement to acquire a 21.36% stake in Neway Valve (Suzhou) Co., Ltd. (SHSE:603699) from Neway Group Co., Ltd. for CNY 1.1 billion on May 5, 2022. The transfer price is CNY 6.82 per share.
Wang Baoqing, Lu Bin, Cheng Zhangwen and Xi Chao completed the acquisition of a 21.36% stake in Neway Valve (Suzhou) Co., Ltd. (SHSE:603699) from Neway Group Co., Ltd. on July 7, 2022.
Neway Valve Suzhou Co Ltd is a China-based company primarily engaged in the production and research and development of industrial valves. The Companyâs main business is to provide customers with industrial valve solutions. The Companyâs main products include ball valves, butterfly valves, gate valves, globe valves, check valves, control valves, nuclear valves, subsea valves, safety valves and other products. The Companyâs products are used in petroleum, natural gas, refining, chemicals, shipbuilding and offshore engineering, power plants, long-distance pipelines, new energy and other industries. The Companyâs other products include actuators, control systems, manifolds, data header and other oil equipment applied to gas and oil industry. The Company conducts its business in the domestic and overseas markets.