Nanchang Municipal Public Investment Holding Co., Ltd. cancelled the additional 8.1% stake in Jiangxi Hongcheng Waterworks Co., Ltd. from Nanchang Investment Property Management Co., Ltd. and Nanchang Shuifu Juncheng Equity Investment Center (Limited Partnership).
May 16, 2021
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Nanchang Municipal Public Investment Holding Co., Ltd. agreed to acquire additional 11.3% stake in Jiangxi Hongcheng Waterworks Co., Ltd. (SHSE:600461) from Nanchang Investment Property Management Co., Ltd. and Nanchang Shuifu Juncheng Equity Investment Center (Limited Partnership) for approximately CNY 660 million on December 17, 2020. Nanchang Municipal Public Investment Holding will acquire 106.8 million shares at an offer per share of CNY 6.14. Nanchang Investment Property Management Co., Ltd. and Nanchang Shuifu Juncheng Equity Investment Center (Limited Partnership) will sell 76.3 million shares and 30.5 million shares respectively. After the completion of this agreement transfer, the total number of shares held by Nanchang Municipal Public Investment Holding will reach 175.1 million shares, accounting for 18.5% of Jiangxi Hongcheng Waterworks's total share capital. This equity change will not lead to changes in the controlling shareholders of Jiangxi Hongcheng Waterworks and will not touch the tender offer. Parties to the transaction signed an agreement on December 17, 2020. As on May 21, 2021, the Nanchang State-owned Assets Supervision and Administration Commission approved the transfer of 3.21% stake from Nanchang Shuifu Juncheng Equity Investment Center (Limited Partnership) to Nanchang Municipal Public Investment Holding Co., Ltd. As of June 8, 2021, Nanchang Municipal Public Investment Holding Co., Ltd. agreed to acquire additional 8.05% stake in Jiangxi Hongcheng Waterworks Co., Ltd. from Nanchang Investment Property Management Co., Ltd.
Nanchang Municipal Public Investment Holding Co., Ltd. cancelled the additional 8.1% stake in Jiangxi Hongcheng Waterworks Co., Ltd. (SHSE:600461) from Nanchang Investment Property Management Co., Ltd. and Nanchang Shuifu Juncheng Equity Investment Center (Limited Partnership) on May 17, 2021.
Jiangxi Hongcheng Environment Co Ltd is a China-based company principally engaged in water supply business and sewage treatment business. The Company operates six segments. Tap Water Production and Sales segment is mainly engaged in the production and supply of water. Sewage Treatment Services segment includes urban domestic sewage treatment and industrial wastewater treatment business. Gas New Energy segment includes gas sales, gas engineering installation and photovoltaic power generation business. Solid Waste Treatment Services segment includes industrial solid waste disposal and power generation and heating, urban food waste treatment, and the disposal of urban garbage leachate and concentrate business. Water Supply and Drainage Pipeline and Sewage Environment Engineering segment is mainly engaged in the construction and renovation of urban water supply pipeline networks, water plants, and sewage treatment plants. Other segment businesses include equipment sales and other business.
Nanchang Municipal Public Investment Holding Co., Ltd. cancelled the additional 8.1% stake in Jiangxi Hongcheng Waterworks Co., Ltd. from Nanchang Investment Property Management Co., Ltd. and Nanchang Shuifu Juncheng Equity Investment Center (Limited Partnership).
JIANGXI HONGCHENG ENVIRONMENT CO.,LTD. 
