Li Xiaoyan and Wang Hao entered into an agreement to acquire 6.66% stake in Eastern Pioneer Driving School Co., Ltd from Eastern Pioneer Investment Co., Ltd. for approximately CNY 230 million.
September 08, 2021
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Li Xiaoyan and Wang Hao entered into an agreement to acquire 6.66% stake in Eastern Pioneer Driving School Co., Ltd (SHSE:603377) from Eastern Pioneer Investment Co., Ltd. for approximately CNY 280 million on September 8, 2021. Under the terms, Eastern Pioneer Investment Co., Ltd. transfers 24.24 million shares of Eastern Pioneer Driving School to Li Xiaoyan and Wang Hao, each at CNY 5.73 per share. Buyers will pay 100% of consideration within 3 working days after obtaining the confirmation documents from the Shanghai Stock Exchange. As on September 10, 2021, Li Xiaoyan and Wang Hao entered into an agreement to acquire 5.34% stake in Eastern Pioneer Driving School Co., Ltd from Eastern Pioneer Investment Co., Ltd. Li Xiaoyan and Wang Hao will acquire 19.44 million shares of Eastern Pioneer Driving School Co., Ltd at purchase price of CNY 5.89 per share, each. Post completion of this transaction, Li Xiaoyan and Wang Hao holds 2.67% stake each and Eastern Pioneer Investment Co., Ltd. holds 24.33% stake in Eastern Pioneer Driving School.
Eastern Pioneer Driving School Co Ltd is a China-based company that operates as a driving school. The Company offers driver education classes mainly in Beijing. The Company arranges different kinds of driver education classes for different customer demand, including speed-up class, weekends class, VIP class, foreigner class and others. The Company also offers different classes for different motorcycle types, including passenger car, motorbike, automobile, truck-tractor and cars for disables.
Li Xiaoyan and Wang Hao entered into an agreement to acquire 6.66% stake in Eastern Pioneer Driving School Co., Ltd from Eastern Pioneer Investment Co., Ltd. for approximately CNY 230 million.
EASTERN PIONEER DRIVING SCHOOL CO., LTD 
