Kingland Technology Co.,Ltd. cancelled the acquisition of 2.92% stake in Baotou Rural Commercial Bank Co., Ltd. from Virgin Australia Holdings Limited.
November 03, 2020
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Kingland Technology Co.,Ltd. (SZSE:000711) agreed to acquire 2.92% stake in Baotou Rural Commercial Bank Co., Ltd. from Virgin Australia Holdings Limited (ASX:VAH) for CNY 75.3 million on November 4, 2019. Kingland Technology Co.,Ltd. will acquire 32.03 million shares at CNY 2.35 per share. Payment will be done in one single installments within 15 days since completion of change of registry procedures. For the year ending December 31, 2018, Baotou Rural Commercial Bank Co., Ltd. reported total assets of CNY 31.2 billion, net assets of CNY 2.3 billion, operating revenue of CNY 944.6 million, operating loss of CNY 260.02 million, net profit of CNY 0.70 million. The transaction was approved by the 20th meeting of the 9th directorate of Kingland Technology Co.,Ltd.
Kingland Technology Co.,Ltd. (SZSE:000711) cancelled the acquisition of 2.92% stake in Baotou Rural Commercial Bank Co., Ltd. from Virgin Australia Holdings Limited (ASX:VAH) on November 4, 2020.
Kingland Technology Co Ltd, formerly HeiLongJiang Kingland Technology Co Ltd, is a China-based company principally engaged in the provision of overall solutions for green smart cities in the eco-environment area. The Company operates through two main segments. The Smart Ecological Water-saving Operation Service segment is mainly engaged in the provision of micro irrigation and irrigation intelligent solutions for enterprise. The Environmental Garden Technology Service segment is primarily involved in the provision of engineering construction and landscape design services.
Kingland Technology Co.,Ltd. cancelled the acquisition of 2.92% stake in Baotou Rural Commercial Bank Co., Ltd. from Virgin Australia Holdings Limited.
KINGLAND TECHNOLOGY CO.,LTD. 
