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STNM to acquire 100% stake in Tianjin Lizhong Group

2018-07-11 17:19:39  【Print】
Sitong New Metal Material Co.Asian Metal Copyright, Ltd.Asian Metal Copyright, Ltd.Asian Metal Copyright, Ltd.Asian Metal Copyright ("STNM") announced on July 10th that it plans to acquire 100% stake in Tianjin Lizhong Enterprise Management Co.Asian Metal Copyright Upon completion of the transaction, STNM will rapidly step into the manufacturing industry of aluminum alloy wheel with the help from the target company.Asian Metal Copyright, Ltd.Asian Metal Copyright, Ltd.Asian Metal Copyright by issuing shares to the current stakeholder Tainjin Dong'an Brothers Co.Asian Metal Copyright0 smart factory transformation investment project.Asian Metal Copyright, Ltd.Asian Metal Copyright "STNM" announced on July 10th that it plans to acquire 100% stake in Tianjin Lizhong Enterprise Management Co.Asian Metal Copyright In addition, STNM also plans to acquire 4.Asian Metal Copyright0 smart factory transformation investment project.Asian Metal Copyright52% stake in Lizhong Group by issuing shares to the current shareholders Tianjin Mingde, Tianjin Tuojin, Tanjin Xinrui, Duo'en Xinrui, and Shenzhen Hongma.Asian Metal Copyright .Asian Metal Copyright Tianjin Lizhong Enterprise Management Co.Asian Metal Copyright At the same time, the company plans to issue shares at an inquiry price through a private placement to no more than five qualified purchasers for collecting proceeds of no more than RMB880 million about USD130 million.Asian Metal Copyright, Ltd.Asian Metal Copyright36% stake in Lizhong Group and indirectly holding 25.Asian Metal Copyright conducts no actual business operation, directly holding 70.Asian Metal Copyright Total transaction price is estimated to be RMB2.Asian Metal Copyright36% stake in Lizhong Group and indirectly holding 25.Asian Metal Copyright36% stake in Lizhong Group and indirectly holding 25.Asian Metal Copyright12% stake in Lizhong Group through Hong Kong Zang Brother Investment Co.Asian Metal Copyright Proceeds from the private placement excluding issuance cost will be invested in projects of 4Mtpy light-weight spin-casting aluminum alloy vehicle wheel and 1 million units of high strength aluminum hanging parts for automobile, as well as the Industry 4.Asian Metal Copyright, Ltd.Asian Metal Copyright "STNM" announced on July 10th that it plans to acquire 100% stake in Tianjin Lizhong Enterprise Management Co.Asian Metal Copyright Upon completion of the transaction, STNM will hold, directly and indirectly, 100% stake in Lizhong Group (the "target company").Asian Metal Copyright, Ltd.Asian Metal Copyright Total transaction price is estimated to be RMB2.Asian Metal Copyright Total transaction price is estimated to be RMB2.Asian Metal Copyright55 billion (about USD380 million).

At the same time, the company plans to issue shares at an inquiry price through a private placement to no more than five qualified purchasers for collecting proceeds of no more than RMB880 million (about USD130 million). Proceeds from the private placement (excluding issuance cost) will be invested in projects of 4Mtpy light-weight spin-casting aluminum alloy vehicle wheel and 1 million units of high strength aluminum hanging parts for automobile, as well as the Industry 4.Asian Metal Copyright, Ltd.Asian Metal Copyright0 smart factory transformation investment project.

Lizhong Group is mainly engaged in the R&D, design, manufacture and sales of aluminum alloy vehicle wheel. Upon completion of the transaction, STNM will rapidly step into the manufacturing industry of aluminum alloy wheel with the help from the target company.

.Asian Metal Copyright52% stake in Lizhong Group by issuing shares to the current shareholders Tianjin Mingde, Tianjin Tuojin, Tanjin Xinrui, Duo'en Xinrui, and Shenzhen Hongma.Asian Metal Copyright