Harson Trading Co.,Ltd. signed an equity acquisition intent agreement to acquire remaining 90% stake in Jiangsu Langxun Industrial Intelligent Equipment Co., Ltd. from Wang Chao, Deng Yong, Wang Huagao, Henan Langxun Investment Partnership Enterprise (L.P.) and Suzhou Luojin Enterprise Management Partnership Enterprise (L.P.).
January 02, 2024
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Harson Trading (China) Co.,Ltd. (SHSE:603958) signed an equity acquisition intent agreement to acquire remaining 90% stake in Jiangsu Langxun Industrial Intelligent Equipment Co., Ltd. from Wang Chao, Deng Yong, Wang Huagao, Henan Langxun Investment Partnership Enterprise (L.P.) and Suzhou Luojin Enterprise Management Partnership Enterprise (L.P.) on January 1, 2024. Under the terms, Harson Trading shall pay the consideration in cash and through issuance of shares. Prior to the transaction, Harson Trading (China) Co.,Ltd. (SHSE:603958) held 10% stake.
As on January 15, 2024, the acquisition agreement was signed. Harson Trading shall pay 70% consideration in shares and 30% in cash. The cash portion has been financed through raising of funds by share issuance.
The transaction has been approved by the Board of Directors and shareholders of Harson Trading. Completion is subject to approval by shareholders of Jiangsu Langxun and the Shanghai Stock Exchange.
Harson Trading (China) Co., Ltd. is a China-based company principally engaged in the brand operation, product design, manufacture and sales of leather shoes. The Companyâs main products include women's shoes and men's shoes. The Company owns its own brands, such as HARSON, KADINA, COVER, ALLER-A and HARSON BUSINESS. The Comopany is also involved in the agent business of foreign brands, including ROBERTA, AS and PIKOLINOS. The Company also provides original equipment manufacture (OEM) and original equipment manufacture (ODM) processing services to an international brand operator with the brand name of DANSKO. The Company distributes its products in domestic market and to overseas markets.
Harson Trading Co.,Ltd. signed an equity acquisition intent agreement to acquire remaining 90% stake in Jiangsu Langxun Industrial Intelligent Equipment Co., Ltd. from Wang Chao, Deng Yong, Wang Huagao, Henan Langxun Investment Partnership Enterprise (L.P.) and Suzhou Luojin Enterprise Management Partnership Enterprise (L.P.).
HARSON TRADING (CHINA) CO.,LTD. 
