Ningxia Building Materials Group Co.,Ltd cancelled the acquisition of China National Building Materials Technology Co.,Ltd. from CNBM Smart Internet Co. Ltd. and others.
January 22, 2024
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Ningxia Building Materials Group Co.,Ltd (SHSE:600449) agreed to acquire China National Building Materials Technology Co.,Ltd. from CNBM Smart Internet Co. Ltd. and others for CNY 2.3 billion on April 29, 2022. As per the transaction, Ningxia Building Materials Group Co.,Ltd will issue 213,235,294 shares to the target shareholders. Shares It can be exchanged for CNY 1.4277 shares of Ningxia Building Materials. Ningxia Building Materials will acquire China National Building Materials Technology Co., Ltd.?s 100% stake through a share exchange at a ratio of 1:1.1815. The transaction is approved by board of directors of Ningxia Building Materials Group Co.,Ltd and China National Building Materials Technology Co.,Ltd. and is subject to regulatory approvals, shareholder?s approval of Ningxia Building Materials Group Co.,Ltd and China National Building Materials Technology Co.,Ltd. As of June 28, 2023, The consideration for this absorption merger transaction calculated based on the number of 149,359,999 shares registered by CSCEC, and the transaction price per share is CNY 15.36 per share. The second extraordinary general meeting of shareholders in 2022 of China National Building Materials Technology Co considered and approved. The transaction is approved by the shareholders of Ningxia Building Materials,China International Capital Corporation Limited acted as financial advisor to Ningxia Building Materials Group Co.,Ltd (SHSE:600449). As of November 14, 2023,The share exchange ratio of CNBM Technology Corporation Limited and the company is 1:1.1628. The Ningxia Building Materials Group Co.,Ltd will issue 173.67 million shares to all shareholders of CNBM Technology Corporation Limited for this merger by absorption.
Moore Stephens Da Hua acted as accountant and Grandall Law Firm acted as legal advisor for Ningxia Building Materials Group Co.,Ltd (SHSE:600449).
Ningxia Building Materials Group Co.,Ltd (SHSE:600449) cancelled the acquisition of China National Building Materials Technology Co.,Ltd. from CNBM Smart Internet Co. Ltd. and others on January 23, 2024.
NINGXIA BUILDING MATERIALS GROUP Co., Ltd is primarily engaged in the manufacture and distribution of cements and commercial concretes. The Companyâs products consist of cements, clinkers and commercial concretes, including 32.5 level, 42.5 level and 52.5 level and 62.5 level Portland cements, ordinary Portland cements, composite Portland cements, slag Portland cements, fly ash cements and road Portland cements, low heat Portland cements, sulphate resisting Portland cements and oil well cements, among others. The Company distributes its products under the brand names of Saima, Qingtongxia, Shuanglu, Liupanshan and Ningzhongning.
Ningxia Building Materials Group Co.,Ltd cancelled the acquisition of China National Building Materials Technology Co.,Ltd. from CNBM Smart Internet Co. Ltd. and others.
NINGXIA BUILDING MATERIALS GROUP CO.,LTD 
