Yang Xide entered into agreement to acquire 5.08% stake in Hainan Shennong Technology Co., Ltd. (SZSE : 300189) from Hunan Hongde Asset Operation Management Co., Ltd. for approximately CNY 220 million.
March 11, 2021
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Yang Xide entered into agreement to acquire 5.08% stake in Hainan Shennong Technology Co., Ltd. (SZSE : 300189) from Hunan Hongde Asset Operation Management Co., Ltd. for approximately CNY 220 million on March 12, 2021. Under the terms, 52 million shares will be acquired as a part of the transaction. The first share transfer price of CNY 30 million shall be paid within five days after this agreement becomes effective and the confirmation of the transfer of the share agreement issued by the Shenzhen Stock Exchange is obtained. The share transfer price of CNY 88.4 million shall be paid within one month from the date of completion of the transfer and registration of all the underlying shares. The remaining share transfer price of CNY 100 million shall be paid before June 30, 2021.
Hainan Shennong Technology Co., Ltd., formerly Hainan Shennong Gene Technology Co., Ltd, is a China-based company principally involved in the breeding, production and sales of hybrid rice seeds, as well as the provision of the related technical services. The Company mainly provides hybrid rice seeds, corn seeds, vegetable seeds, melon and fruit seeds, as well as cotton seeds, among others. The Company is also engaged in the provision of supply chain services such as commodities and electronic components. The Company operates its businesses primarily in Mainland China.
Yang Xide entered into agreement to acquire 5.08% stake in Hainan Shennong Technology Co., Ltd. (SZSE : 300189) from Hunan Hongde Asset Operation Management Co., Ltd. for approximately CNY 220 million.
HAINAN SHENNONG TECHNOLOGY CO., LTD. 