(Original title: Zhonghuan Equipment (300140.SZ) plans to issue additional shares to acquire a number of companies and raise no more than 3 billion yuan to become a comprehensive service provider in the field of environmental protection)
Zhitong Finance APP News, Zhonghuan Equipment (300140.SZ) announced that the company intends to purchase its 100% equity in Environmental Technology from China Environmental Protection by issuing shares and paying cash, and purchase its holdings from Hebei Jiantou by issuing shares. 19% of CECEP Shijiazhuang, 19% of CECEP Baoding, 19% of CECEP Qinhuangdao, 19% of CECEP Cangzhou, and 14% of Chengde Huanneng Thermal Power. Before the transaction, Environmental Technology held 81% of CECEP Shijiazhuang, 75.69% of CECEP Baoding, 66.16% of CECEP Qinhuangdao, 71% of CECEP Cangzhou, and 51% of Chengde Huanneng Thermal Power. After the completion of the transaction, Environmental Technology and CECEP Shijiazhuang will become the company’s wholly-owned subsidiaries, and CECEP Baoding, CECEP Qinhuangdao, CECEP Cangzhou, and Chengde Huaneng Thermal Power will become the company’s holding subsidiaries. The issue price of this issue of shares to purchase assets is 4.63 yuan per share.
In addition, the company intends to issue shares to no more than 35 qualified specific investors to raise supporting funds by means of price inquiry. The funds raised shall not exceed 3 billion yuan, and the number of issued shares shall not exceed 30% of the company’s share capital after the issuance of shares to purchase assets. After deducting intermediary agency fees and related taxes, the supporting funds raised in this transaction are intended to be used for the payment of the cash consideration for this transaction, the construction of the target company’s projects, and the replenishment of working capital.
The announcement shows that this transaction is expected to constitute a major asset restructuring of the listed company, and does not constitute a restructuring and listing. China Environmental Protection, the counterparty of the issuance of shares and the payment of cash to purchase assets, is a related party controlled by the controlling shareholder of the listed company, so this transaction constitutes a related transaction.
It is reported that the main business of the company before the transaction includes energy-saving and environmental protection equipment, special equipment for electricians, etc. The underlying assets are dedicated to the business related to waste incineration and power generation, mainly providing sales of electricity services and waste treatment services. After the reorganization is completed, the company will integrate the competitive advantages of the target company, cultivate new business growth points, expand the company’s industrial layout in the field of energy conservation and environmental protection, and strive to become a comprehensive service provider in the field of environmental protection.