ZHONGSHENJIANYE issues new shares to acquire supervision and construction business, involving over 210 million
ZHONGSHENJIANYE (02503.HK) announced the acquisition of a total of 99% equity in Huajian Engineering from three sellers, the latter focusing on engineering construction supervision and possessing various supervisory qualifications, for a total consideration of approximately HKD 214 million, which will be paid through the issuance of 403 million consideration shares, equivalent to an expanded post-issue share capital of 35.22%; the issue price is HKD 0.53, representing a discount of 7.02% compared to today's (6th) closing price.
Upon completion, two of the sellers, Huajian Investment and Huajian Consulting, will hold 23.64% and 10.13% of the company's equity, respectively
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