Haobai International (08431) issued an announcement on matters relating to the company's intention to acquire 15% partnership interests in Yongqiang Company...
According to Zhitong Finance App News, Haobai International (08431) issued an announcement on matters relating to the company's intention to acquire 15% partnership interests in Yongqiang Company. All the prerequisites set out in the sales agreement (supplemented by the supplementary agreement dated February 16, 2024) have been met and implemented on March 1, 2024. Upon completion, the target company became an indirect wholly-owned subsidiary of the company. The financial results of the target company will be comprehensively included in the company's consolidated financial statements. The target company's 15% partnership interest in Yongqiang Company will be recorded as a saleable investment, and Yongqiang's financial results will not be comprehensively recorded in the company's financial statements.
According to the sale agreement (as amended by the supplementary agreement dated February 16, 2024), for settlement purposes, the company has allocated and issued 16.5 million consideration shares to the seller at the issue price, accounting for about 5.33% of the company's issued share capital after the expansion of the cost shares.