CHINAHONGQIAO's subsidiary issues new shares to fully acquire Hongtuo Industrial, approved by the China Securities Regulatory Commission
CHINAHONGQIAO (01378.HK) announced that on December 31, it received approval from the China Securities Regulatory Commission, agreeing to the transaction in which its 22.98% subsidiary HONTRON plans to acquire 100% equity of Hongtuo Industrial from the existing nine shareholders (including Weiqiao Aluminum & Electricity) by issuing new shares. On the same day, 100% equity of Hongtuo Industrial has been fully transferred to HONTRON, and the asset transfer for this transaction has been completed
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