China CIFCO Investment Co., Ltd. (SZSE:000996) signed shares issuance framework agreement to acquire 78.45% stake in China International Futures Co., Ltd. from group of sellers on January 24, 2019. The consideration will be paid by the issuance of shares. China CIFCO Investment Co., Ltd. (SZSE:000996) signed acquisition of assets through the issuance of shares agreement to acquire 70.02% stake in China International Futures Co., Ltd. from group of sellers for CNY 6.6 billion on May 6, 2019. Under the revised terms, China CIFCO will issue 431,156,989 common shares as consideration. China CIFCO Investment will issue shares to no more than 10 qualified specific investors to raise supporting funds. For the year ended September 30, 2018, China International Futures reported total assets of CNY 6.2 billion and total owner’s equity of CNY 1.4 billion. On January 24, 2019, the company’s 9th session of the 7th directorate meeting reviewed and approved the transaction. The transaction is subject to shareholders’ of meeting approval of China CIFCO Investment, China Securities Regulatory Commission approval and directorate meeting approval. As of May 6, 2019, the official plan has been approved in the 11th meeting of the China CIFCO’s 7th directorate. After the completion of the relevant audit, evaluation and valuation and due diligence work, the China CIFCO Investment Co., Ltd. will once again convene the Board of Directors to review the relevant matters of this major asset restructuring, and disclose the formal plan for major asset restructuring. The above schemes must also be reviewed and approved by the shareholders' meeting and approved by the China Securities Regulatory Commission and other regulatory agencies. Xu Kang, Zhou Zheng, Su Yi, Cao Yue, Li Wai, Li Jian, Li Haoyi, He Jizhou, Tan Yinghui and Tan Yingfeng of HSBC Qianhai Securities Ltd acted as independent financial advisors to China CIFCO Investment Co., Ltd. Tan sijun, gong jiawen, bian zhixing and wang xiumiao of Beijing Jia Yuan Law Offices acted as legal advisors to China CIFCO in the transaction. Zhang Xuefu, Feng Lianqing, Liu Wenjie and Wang Haiyan of ZhongXingCaiGuangHua CPA Office Co., Ltd acted as accountants to China CIFCO in the transaction.