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Hangzhou Huaxing Chuangye Communication Technology Co Ltd to Acquire Equity Shares and to Issue New Shares


Sunday, 8 Sep 2013 08:00pm EDT 

Hangzhou Huaxing Chuangye Communication Technology Co Ltd announced that it has decided to issue 42,671,290 new shares at the price of RMB 6.70 per share, to 14 individual shareholders, to acquire a 99% stake in WINNERRY, a 39% stake in XZ-COM and a 39% stake in Zhejiang Sunbelt Network Technology Co., Ltd. After this, the Company will hold a 99% stake in the three target companies respectively. The Company will also issue up to 15,798,958 new shares at the price of RMB 6.03 per share, to raise up to RMB 95,583,700 in total, through private placement. 

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