Nanfang Zhongjin Environment Co., Ltd. signed an agreement to acquire Zhejiang Jintailai Environmental Protection Co., Ltd from a group of sellers for CNY 1.9 billion.
October 15, 2017
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Nanfang Zhongjin Environment Co., Ltd. (SZSE:300145) signed an agreement to acquire Zhejiang Jintailai Environmental Protection Co., Ltd from a group of sellers for CNY 1.9 billion on October 13, 2017. Nanfang Zhongjin Environment Co., Ltd. will pay CNY 749.3 million in cash and will issue 79.02 million shares. In related transaction, Nanfang Zhongjin Environment Co., Ltd. will issue shares worth CNY 824.25 million in a private placement to not more than 5 qualified investors and the proceeds will be used to fund the cash portion of the consideration. In case the private placement is not successful, Nanfang Zhongjin Environment Co., Ltd. will have 60 working days to raise the needed cash from its own funds. ZTF Securities Co., Ltd. acted as financial advisor to Nanfang Zhongjin Environment Co., Ltd.
Nanfang Zhongjin Environment Co., Ltd., formerly Nanfang Pump Industry Co., Ltd., is a China-based company principally engaged in the research, development, manufacture and distribution of centrifugal pumps and other water supply equipment. The Companyâs main products include CDL series centrifugal pumps, CHL series centrifugal pumps, complete sets of water supply equipment, sewage pumps, pipe pumps, axially split pumps, fire pumps, metering pumps, oil pumps and deep well pumps, among others. The Company's products are used in clean water treatment, building water supply, heat supply system, pharmaceutical and electronic cleaning industries. The Company distributes its products in domestic market and to overseas markets.
Nanfang Zhongjin Environment Co., Ltd. signed an agreement to acquire Zhejiang Jintailai Environmental Protection Co., Ltd from a group of sellers for CNY 1.9 billion.
NANFANG ZHONGJIN ENVIRONMENT CO., LTD. 
