moomoo ID:0
Log Out
  • English
  • 中文繁体
  • 中文简体

Binhai Investment Agrees To Proposed Minority Stake Acquisition

MT Newswires ·  09/19 21:28

09:27 AM EDT, 09/19/2022 (MT Newswires) -- Binhai Investment (Tianjin), a wholly-owned subsidiary of Binhai Investment Company (HKG:2886), agreed with Tianjin TEDA-Nangang Development Group Co., Ltd., or TEDA-Nangang, for a proposed acquisition of a 2% equity interest in Sinopec Tianjin Liquefied Natural Gas Co., Ltd., or Sinopec LNG.

As part of the agreement of intent, TEDA-Nangang granted a six-month negotiation period with Binhai Investment to facilitate the signing of a formal agreement.

Binhai Investment (Tianjin) will pay earnest money of 150 million yuan, or $21.4 million, to TEDA-Nangang within five business days from Sept. 15. TEDA-Nangang will return the earnest money if a formal agreement was not executed within the negotiation period.

The proposed acquisition aims to improve Binhai Investment Company's peak shaving by way of gas storage and to enhance its gas trading business.

Price (HKD): $1.50, Change: $-0.04, Percent Change: -2.60%

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites and Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.