Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi completed the acquisition of 6.9% stake in Qtone Education Group Co.,Ltd from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya.
October 28, 2020
Share
Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi entered into a share transfer agreement to acquire 6.9% stake in Qtone Education Group (Guangdong) Co.,Ltd (SZSE:300359) from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya for approximately CNY 350 million on September 7, 2020. Under the terms of the transaction, Nanchang Economic will acquire 43.7 million shares in Qtone at an offer per share of CNY 8.
Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi completed the acquisition of 6.9% stake in Qtone Education Group (Guangdong) Co.,Ltd (SZSE:300359) from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya on October 29, 2020. Post completion, Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi holds 43.7 million shares equivalent to 6.8911% stake, Zhongshan Fenghui Capital Management Co., Ltd hold 0% stake, Quanding Capital Management Co., Ltd. hold 5.03% stake, Chen Chichang hold 13.7% stake and Lin Xiaoya hold 1.94% stake in Qtone Education Group (Guangdong) Co.,Ltd. Chen Chichang and concerted action parties have entrusted the voting rights corresponding to 105.32 million shares held by himto Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnership (Limited Partnership).
QTONE EDUCATION GROUP (GUANGDONG).,LTD. , formerly GUANGDONG QTONE EDUCATION CO., LTD is primarily engaged in the provision of family education information services. The Company operates in three segments, including Family Interaction Updating, Education Software as a Service (EdSaaS) and Continuing Education. The Company mainly operates its business in domestic market.
Nanchang Economic and Technological Development Zone Chinese Xushun Enterprise Management Partnershi completed the acquisition of 6.9% stake in Qtone Education Group Co.,Ltd from Zhongshan Fenghui Capital Management Co., Ltd., Quanding Capital Management Co., Ltd., Chen Chichang and Lin Xiaoya.