Guangzhou Xingcheng Private Equity Securities Investment Management Co., Ltd. completed the acquisition of10.2% stake in Shenzhen Cotran New Material Co.,Ltd. from Suzhou Tianli Investment Co., Ltd.
March 17, 2021
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Guangzhou Xingcheng Private Equity Securities Investment Management Co., Ltd. signed an agreement to acquire 10.2% stake in Shenzhen Cotran New Material Co.,Ltd. (SZSE:300731) from Suzhou Tianli Investment Co., Ltd for approximately CNY 250 million on February 9, 2021. Under the terms, within 10 working days after the signing of this agreement, 20% of consideration will be paid, 30% of the total share transfer price shall be paid within 10 working days after the transaction is approved by Shenzhen Stock Exchange. After receiving the second equity transfer payment, the transfer of 50% of the underlying shares must be completed within 10 working days. Within 30 working days after the above 50% of the underlying shares are transferred to the account of Guangzhou Xingcheng, shall be paid 50% of the transfer price. The transfer of the remaining 50% of the underlying shares shall be completed within 10 working days after receiving the third equity transfer payment. After the transaction, Suzhou Tianli Investment Co., Ltd will hold 3.01% stake in Shenzhen Cotran New Material. On March 12, 2021, China Securities Depository and Clearing Company Limited issued Share Transfer Application Confirmation, that the first transfer of Shenzhen Cotran New Material Co’s shares of 6.4 million shares representing 5.086% stake, was completed. The transaction is subject to approval of Shenzhen Stock Exchange.
Guangzhou Xingcheng Private Equity Securities Investment Management Co., Ltd. completed the acquisition of10.2% stake in Shenzhen Cotran New Material Co.,Ltd. (SZSE:300731) from Suzhou Tianli Investment Co., Ltd on March 8, 2021. that the 2nd phase transfer of Shenzhen Cotran New Material Co’s shares of 6.4 million shares representing 5.086% stake, was completed.
Shenzhen Cotran New Material Co Ltd is a company engaged in research, development, production and sales of polymer materials. The Company provides plastic metallized devices, radiators, waterproof tapes and waterproof insulating tapes for communications industry. It provides fireproof tapes, high voltage insulation tapes, metal shielding tapes and other products for power industry. The Company's other products include door and window seals used in automobile manufacturing and rail transit industries and anti-corrosion microfiber armor used in marine engineering facilities. The Company sells its products to both domestic and international markets, including Europe and South America.