Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. completed the acquisition of 20% stake in Shanghai Runda Medical Technology Co., Ltd. from a group of shareholders.
October 29, 2019
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Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. signed intentional framework agreement to acquire 20% stake in Shanghai Runda Medical Technology Co., Ltd. (SHSE:603108) from a group of shareholders for CNY 1.5 billion on August 1, 2019. Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. will acquire 116 million shares for CNY 12.95 per share. Post completion, actual controller of Shanghai Runda Medical Technology Co., Ltd. will change from Liu Hui and Zhu Wenyi to Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. On August 31, 2019 Share Transfer Agreement was signed between the parties.
Consideration will paid as: Before 16:00 on the date of signing this agreement Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. shall pay a deposit of CNY 80 million. The payment of the target share transfer payment shall be agreed by the parties in accordance with the formal share transfer agreement signed at that time. As of September 3, 2019, Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd shall make payment in installments of CNY 161 million, CNY 629 million and CNY 632.2 million.
Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. completed the acquisition of 20% stake in Shanghai Runda Medical Technology Co., Ltd. (SHSE:603108) from a group of shareholders on October 30, 2019. Registration Confirmation Certificate has been issued by Shanghai Branch of China Securities Depository and Clearing Co., Ltd.
Shanghai Runda Medical Technology Co., Ltd. is a China-based company, principally engaged in the provision of in-vitro diagnostic devices and professional technique support services for all kinds of medical laboratories. The Company's integrated services include product portfolio options, professional and technical application services, informatization management of logistics warehousing distribution systems and all-round technical support. The Company also provides sales support and customer channel management, among others. The company mainly conducts its businesses within domestic market.
Hangzhou Xiacheng State-owned Investment Holding Group Co., Ltd. completed the acquisition of 20% stake in Shanghai Runda Medical Technology Co., Ltd. from a group of shareholders.