Narada Power to procure 49% shares of Huabo Technology by RMB1.96 billion
2017-03-28 16:51:56 [Print]
According to the announcement released by Narada Power Source Co., Ltd. (Narada Power) in the evening of March 26, it not only plans to procure 49% shares of Anhui Huabo Renewable Resources Technology Co., Ltd. (Huabo Technology) through cash payment and the private issuing of shares to Zhu Baoyi; but also prepares to issue shares to no more than 5 (including 5) special objects which can meet the related conditions, to raise supporting funds.
It is reported that the total consideration of the transaction is RMB19.6 billion, including RMB1.47 billion for issuing 81,985,499 shares at RMB17.93/share to Zhu Baoyi and RMB490 million for cash.
As one of leading companies in recycling lead in the world, Huabo Technology which owns advantages in advanced scales and technologies as well as high profitability and others, realized net profits of RMB114,840,200 and RMB378,808,000 in 2015 and 2016 respectively with net profits after the deduction of non-recurring profits and losses being RMB62,381,900 and RMB312,359,400 respectively.
Narada Power noted that after the transaction, it will obtain the interests of the minority shareholders and Huabo Technology will become one of its whole subsidiaries, which will be helpful to strengthen the control on Huabo Technology.
It is reported that the total consideration of the transaction is RMB19.6 billion, including RMB1.47 billion for issuing 81,985,499 shares at RMB17.93/share to Zhu Baoyi and RMB490 million for cash.
As one of leading companies in recycling lead in the world, Huabo Technology which owns advantages in advanced scales and technologies as well as high profitability and others, realized net profits of RMB114,840,200 and RMB378,808,000 in 2015 and 2016 respectively with net profits after the deduction of non-recurring profits and losses being RMB62,381,900 and RMB312,359,400 respectively.
Narada Power noted that after the transaction, it will obtain the interests of the minority shareholders and Huabo Technology will become one of its whole subsidiaries, which will be helpful to strengthen the control on Huabo Technology.
Lead Ingot Secondary 99.994%min Ex-VAT EXW China
Unit:RMB/mt
China secondary lead producers' inventory statistics by province by month
Unit: mt
