TJSUD: Plans to purchase equity and issue shares to no more than 35 specific investors to raise matching funds

TJSUD announced that the acquirer, Tianjin Jineng Investment Co., Ltd. and its concerted parties, Tianjin Gas Group Co., Ltd. and Tianjin State-owned Capital Investment and Operation Co., Ltd., intend to acquire 100% of the shares of Tianjin Jineng Co., Ltd., 100% of the equity of Tianjin Thermal Power Co., Ltd., and 100% of the equity of Tianjin Port Yigong Heat Supply Co., Ltd. through asset swaps, issuing shares, and cash payments. They will also issue shares to no more than 35 specific investors to raise matching funds. After the completion of this acquisition, the acquirer and its concerted parties will hold more than 30% of the shares of TJSUD