Chiyao No. 10 Private Securities Investment Fund managed by Shanghai Chiyao Investment Co., Ltd completed the acquisition of 5.01% stake in Sanwei Holding Group Co.,Ltd from Wu Shanguo.
July 10, 2023
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Chiyao No. 10 Private Securities Investment Fund managed by Shanghai Chiyao Investment Co., Ltd signed share transfer agreement to acquire 5.01% stake in Sanwei Holding Group Co.,Ltd (SHSE:603033) from Wu Shanguo for approximately CNY 670 million on June 8, 2023. As reported, Wu Shanguo will transfer 39,680,000 shares in Sanwei Holding Group Co. at CNY 17.07 per share, payable in cash. Within ten working days after this agreement has been signed and becomes effective, Shanghai Chiyao Investment Co., Ltd shall pay Wu Shanguo, the first transfer price of CNY 8 million. After obtaining the share agreement transfer confirmation opinion issued by the exchange for this share transfer, and within 180 days after China Securities Depository and Clearing Co., Ltd. completed the transfer registration procedures and obtained the securities transfer registration confirmation letter, 50% of the total transfer price amounting to CNY 338.7 million will be paid and the balance CNY 330.7 million will be paid within 365 days after the completion of the transfer registration procedures at China Securities Depository and Clearing Co., Ltd. for this share transfer and the confirmation of securities transfer registration. Following the sale, Wu Shanguo will transfer 5.01% stake in Sanwei Holding Group Co. The transfer of this agreement still needs to obtain compliance confirmation from the Shanghai Stock Exchange, and the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. formalities.
Chiyao No. 10 Private Securities Investment Fund managed by Shanghai Chiyao Investment Co., Ltd completed the acquisition of 5.01% stake in Sanwei Holding Group Co.,Ltd (SHSE:603033) from Wu Shanguo on July 11, 2023. Sanwei Holding Group Co.,Ltd received a notice that China Securities Depository and Clearing Company Limited issued âSecurities Transfer Registration Confirmation,â that the transfer of Sanwei Holding Group Co.,Ltdâs shares was completed.
Sanwei Holding Group Co Ltd is a China-based company principally engaged in the research, design, manufacture and distribution of rubber products. The Company operates in four divisions. Rubber segment is mainly engaged in the production and manufacture of rubber conveyor belts and transmission V-belts. The main business of Sleeper segment is the production and manufacturing of concrete sleepers, turnout sleepers, track slabs, subway segments and railway buckle accessories. Thermoelectric segment is mainly engaged in the production of thermoelectric products. Polyester Fiber segment is mainly engaged in the production of polyester fiber products. The Company mainly develops its businesses in the domestic market.
Chiyao No. 10 Private Securities Investment Fund managed by Shanghai Chiyao Investment Co., Ltd completed the acquisition of 5.01% stake in Sanwei Holding Group Co.,Ltd from Wu Shanguo.