Sinar Mas Paper (China) Investment Co.,Ltd made an offer to acquire an 51.2% stake in Shandong Bohui Paper Industry Co., Ltd. (SHSE:600966) for CNY 3.7 billion on March 7, 2020. Sinar Mas Paper (China) Investment will issue a tender offer to all shareholders of Shandong Bohui Paper Industry (excluding Ningbo Asia Paper Tube & Carton Box Co., Ltd. and Shandong Bohui Group Corporation). As of August 25, 2020, Sinar Mas Paper (China) Investment Co.,Ltd made the offer to acquire 51.16% stake in Shandong Bohui Paper Industry Co., Ltd. for CNY 3.7 billion. Sinar Mas Paper (China) Investment Co.,Ltd made the offer to acquire 684 million shares at CNY 5.36 per share. In a related deal, Sinar Mas Paper (China) Investment Co., Ltd. acquired Shandong Bohui Group Corporation. The tender offer is not intended to terminate Shandong Bohui Paper Industry's listing status. The tender offer is still subject to review and approval by the State Administration for Market Regulation and National Development and Reform Commission. The transaction is approved by the board of Shandong Bohui Paper Industry Co., Ltd on September 11, 2020. Offer is valid till September 26, 2020. ZTF Securities Co., Ltd. acted as financial advisor Shandong Bohui Paper Industry.