Hebei Construction (01727) issued an announcement. The company has passed the public listing and concession process and successfully competed for 51% of the construction...
According to the Zhitong Finance App, Hebei Construction (01727) issued an announcement. The company has successfully bid for 51% of the shares in the construction through a public listing and concession procedure, and signed an equity transfer agreement with the government platform company (as the transferor) on March 19, 2024. The transaction price was RMB 51.51 million (acquisition). After the acquisition is completed, the company will hold 100% of the shares in Zhongwei Construction. Zhongwei Construction will become a subsidiary of the company, and the results of Zhongwei Construction will be consolidated into the Group's comprehensive financial statements.
Zhongwei Construction is a limited liability company registered and established in China on November 13, 2009, mainly engaged in construction engineering services. Prior to the completion of the acquisition, the company and the government platform company held 49% and 51% of the target company's shares respectively.
According to the announcement, the acquisition of 51% of the target company's shares is based on the company's business layout needs and account processing needs for past transactions. It is in line with the company's overall long-term development strategy plan, and there are no circumstances that harm the interests of the company's small and medium-sized investors.