Jiangsu Wuzhong Industrial Co., Ltd. announced the company intends Bi Hongfen, Bi Wing Sing, Panpei Hua issue of shares and payment of cash to buy their holdings Xiangshui Henglida 100% stake in the underlying asset exchange price of 60,000 yuan. Which the company issued shares to pay 40,000.00 yuan in cash 20,000.00 million; the same time, price and agency fees, the transaction is completed in response to less than ten specific investors to raise matching funds for the payment of the cash transaction water Henglida two projects to supplement working capital Xiangshui Henglida etc., matching the total funds raised not more than 100% of the assets to be purchased in the transaction price.
Notice that the pricing issue of shares to buy assets of the company in view of the stock suspension within a period of time before the A-share market and the company's shares have changed significantly, as much as possible to reflect the fair value of the company shares, taking into account the interests of all parties, the parties to the transaction negotiations, We decided before the pricing benchmark stock trading price 120 days as the market reference price of 90% of the market reference price as the issue of shares to buy assets of the issue price, that is 22.07 yuan / share. Raise matching funds issue price of not less than 20 trading days before the pricing benchmark stock average trading price of A shares 90%, or 21.97 yuan / share.
According to reports, the acquisition target Xiangshui Henglida belongs dye intermediates industry has good prospects for the development of their own with strong profitability. After the completion of this transaction, the sound of water Hengli will become a wholly owned subsidiary of the listed company, will help improve the quality of assets of listed companies, improve the financial situation, to promote the continued viability of enhancement. Counterparty commitments Xiangshui Henglida 2016 year 2017 year 2018 consolidated net profit in the year to achieve after deducting non-recurring gains and losses attributable to equity holders of not less than $ 78 million, respectively, 8,970 yuan, 10,315 Wan yuan. Commitment to performance above does not include gains and losses on the underlying investment company to raise matching funds generated by the project.
For this acquisition, the company said the move will achieve strategic transformation, the formation of pharmaceutical and chemical wheel drive situation, size, profitability and risk-resisting ability of the company's assets will be effectively promoted. About pharmaceutical business, the listed company will focus on realization of business service model, changes in development, focusing on promoting the "three priorities", including the cultivation of key strategic areas of product group, three strategic markets deep plowing, three key sub-strategies ( product development, marketing and commercial) implementation in the field of anti-tumor therapy, immunomodulation, digestive competitive advantage status, rapid product size bigger, and stronger. About dye intermediates chemical business, the listed company will continue the subject of the company's business development ideas, R & D, production and other resources to focus on their strengths varieties, gain a competitive advantage in the market in these species while raising matching funds for this transaction part of the investment in the target company II project, business objective is to develop a domestic dyes and intermediates business has outstanding competitive advantage.