Zhufeng Yuchang No. 9 Private Securities Investment Fund, managed by Zhufeng Asset Management Co., Ltd. completed the acquisition of a 5.01% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd from China Honglou Group Co., Ltd.
March 01, 2022
Share
Zhufeng Yuchang No. 9 Private Securities Investment Fund, managed by Zhufeng Asset Management (Beijing) Co., Ltd. agreed to acquire a 5.01% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd (SHSE : 600738) from China Honglou Group Co., Ltd. for approximately CNY 220 million on January 28, 2022. The consideration comprises payment of CNY 30 million as the first share transfer payment to the bank account designated by China Honglou Group within 2 working days after the Shanghai Stock Exchange approves the transfer of shares and issues a confirmation letter, payment of CNY 90.12 million within 10 working days after receiving the "Securities Transfer Registration Confirmation" and remaining payment of CNY 96.10 million within 60 days after both parties complete the transfer procedures for the underlying shares. The transaction is subject to the approval of Shanghai Stock Exchange.
Zhufeng Yuchang No. 9 Private Securities Investment Fund, managed by Zhufeng Asset Management (Beijing) Co., Ltd. completed the acquisition of a 5.01% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd from China Honglou Group Co., Ltd on March 2, 2022.
Lanzhou Lishang Guochao Industrial Group Co Ltd, formerly Lanzhou Minbai Shareholding Group Co Ltd, is a China-based company that operates department store business. The Company is principally engaged in retail department stores and catering hotels in Lanzhou, professional market management in Nanjing, professional markets in Hangzhou and Shanghai, as well as unified operation and management of integrated shopping malls. The Company mainly operates its business in the domestic market.
Zhufeng Yuchang No. 9 Private Securities Investment Fund, managed by Zhufeng Asset Management Co., Ltd. completed the acquisition of a 5.01% stake in Lanzhou Lishang Guochao Industrial Group Co.,Ltd from China Honglou Group Co., Ltd.