Yancheng Oriental Investment & Development Group Co.,Ltd. completed the acquisition of 8% stake in Jiangsu Liba Enterprise Joint-Stock Co., Ltd. from Lu Fengxian.
December 28, 2020
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Yancheng Oriental Investment & Development Group Co.,Ltd. entered into a letter of intent to acquire 8% stake in Jiangsu Liba Enterprise Joint-Stock Co., Ltd. (SHSE:603519) from Lu Fengxian for approximately CNY 340 million on November 16, 2020. Yancheng Oriental Investment signed an agreement to acquire 8% stake in Jiangsu Liba Enterprise from Lu Fengxian on December 6, 2020. Yancheng Oriental Investment will acquire 17.8 million shares at CNY 19.25 per share. The transaction has been approved by Yancheng Oriental Investment’s directorate approved the transaction. The transaction is subject to approval of Shanghai Stock Exchange and approved by the Yancheng Economic and Technological Development Zone Management Committee.
Yancheng Oriental Investment & Development Group Co.,Ltd. completed the acquisition of 8% stake in Jiangsu Liba Enterprise Joint-Stock Co., Ltd. (SHSE:603519) from Lu Fengxian on December 29, 2020.
Jiangsu Liba Enterprise Joint-Stock Co., Ltd. is a China-based company primarily engaged in the research, development, production and sales of composite materials for household appliances. It main products include vinyl-coated metal (VCM) which covered with various functional films, primarily used in panels of household appliances, such as refrigerators and washing machines, as well as high-grade water heaters and doors; pre-coated metal (PCM) which covered with organic polymer coatings, primarily used in the lateral plates of household appliances, such as refrigerators and washing machines, as well as products such as microwave ovens and water heaters.
Yancheng Oriental Investment & Development Group Co.,Ltd. completed the acquisition of 8% stake in Jiangsu Liba Enterprise Joint-Stock Co., Ltd. from Lu Fengxian.
JIANGSU LIBA ENTERPRISE JOINT-STOCK CO., LTD. 
