5I5J Holding Group Co., Ltd. entered into a framework agreement to acquire Nanchang ZhongHuan Network Information Service Co.,Ltd. from a group of sellers.
December 16, 2018
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5I5J Holding Group Co., Ltd. (SZSE:000560) entered into a framework agreement to acquire Nanchang ZhongHuan Network Information Service Co.,Ltd. from a group of sellers on December 17, 2018. As per the terms, payment of consideration will be through shares issuance and cash payment. Tangshan Xiexing Investment Partnership Enterprise (Limited Partnership), Gongqingcheng Huatong Ruirong Investment Management Partnership Enterprise (Limited Partnership), Guangzhou Unicorn Equity Investment Fund Partnership Enterprise (Limited Partnership), Gongqingcheng Jiye Evergreen Investment Partnership Enterprise (Limited Partnership), Shenzhen Tongze Investment Consulting Co., Ltd., Tu Yefei, Xiong Yangui, Cao Miaomiao, Yu Taichang, Guo Linsheng and Zhou Weichun will receive only cash as consideration. Liu Peng, Qin Shuaihui, Ma Tianyou and Chen Bin will receive only stock as consideration. Xinyu High-tech Zone Ruirong Investment Center (Limited Partnership), Liu Chibin, Liu Chihai, Tongju Lushan (Shenzhen) Investment Center (Limited Partnership) will receive both cash and stock as consideration. 5I5J Holding intends to issue shares toward no more than 10 qualified specific investors to raise gross proceeds of no more than 20% of the total share capital prior to issuance. Proceeds raised shall be used to pay the cash consideration, intermediary fees of this transaction (acquisition of asset) and to repay bank loans. A shares will be issued.
The transaction is subject to signing the formal agreement, subject to approval of shareholders of 5I5J Holding and approval of China Securities Regulatory Commission. The transaction has been approved in the 5I5J Holding’s 25th session of the 9th directorate meeting. Approvals has also been received from Xinyu High-tech Zone Ruirong Investment Center (Limited Partnership), Tangshan Xiexing Investment Partnership Enterprise (Limited Partnership), Tongju Lushan (Shenzhen) Investment Center (Limited Partnership), Gongqingcheng Huatong Ruirong Investment Management Partnership Enterprise (Limited Partnership), Guangzhou Unicorn Equity Investment Fund Partnership Enterprise (Limited Partnership), Gongqingcheng Jiye Evergreen Investment Partnership Enterprise (Limited Partnership) and Shenzhen Tongze Investment Consulting Co., Ltd.
5I5J Holding hired China Securities Co., Ltd. to serve as independent financial advisor to this transaction.
5I5J HOLDING GROUP CO., LTD. is a China-based company mainly engaged in the real estate business. The Company operates three main businesses. Real estate brokerage business includes second-hand house brokerage business, new house business and overseas business. The property management business is engaged in the residential leasing and property management. The commercial asset management business is engaged in the management of commercial rental operations such as department stores. The Company is also engaged in commercial retail, hotel travel services, real estate development, property services and other services. The Company conducts its business within the domestic market and to overseas markets.
5I5J Holding Group Co., Ltd. entered into a framework agreement to acquire Nanchang ZhongHuan Network Information Service Co.,Ltd. from a group of sellers.