Veken Elite to further invest over RMB0.9 billion in lithium battery business
2017-02-21 16:21:33 [Print]
According to a report from Veken Elite in the evening of February 17, they plan to issue shares to purchase 71.4% shares of Veken Battery, 100% shares of Veken New Energy and 60% shares of Veken Energy held by Veken Group. In particular, prices for the above transactions are RMB649.74 million, RMB158.7 million and RMB95.7 million respectively. Meanwhile, Veken Elite plans to raise supporting funds of no more than RMB800 million for construction fees, agency fees and other fees and the raised supporting funds won’t be 100% higher than the above transaction prices.
Veken Energy is a shareholding company and its main assets are 28.6% shares of Veken Battery. Before the transaction, listed company holds 40% shares of Veken Energy and will hold 100% shares of Veken Battery after the transaction through indirect and direct ways. It will also hold 100% shares of Veken New Energy directly.
Veken Battery is engaged in research, development, manufacturing and selling for lithium ion battery and is one of companies focusing on these businesses in earlier period in China. Founded on March 24, Veken New Energy mainly does the research, development, manufacturing and selling business for lithium ion driven battery modules. Veken New Energy was still in the investment state and hadn’t conducted actual business before the signing of this report.
After these transactions, listed company will add lithium battery business except the traditionally textile business.
Veken Energy is a shareholding company and its main assets are 28.6% shares of Veken Battery. Before the transaction, listed company holds 40% shares of Veken Energy and will hold 100% shares of Veken Battery after the transaction through indirect and direct ways. It will also hold 100% shares of Veken New Energy directly.
Veken Battery is engaged in research, development, manufacturing and selling for lithium ion battery and is one of companies focusing on these businesses in earlier period in China. Founded on March 24, Veken New Energy mainly does the research, development, manufacturing and selling business for lithium ion driven battery modules. Veken New Energy was still in the investment state and hadn’t conducted actual business before the signing of this report.
After these transactions, listed company will add lithium battery business except the traditionally textile business.
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