Beijing Energy International Holding's (HKG:0686) subsidiary BEJN International Holding agreed to pay refundable earnest money amounting to 500 million yuan to facilitate its negotiations with Huitian Network.
The negotiations relate to the acquisition of equity interest in three target companies and the acquisition of an exclusive right to acquire certain target assets held by the target companies, a Friday filing with the Hong Kong Exchange said.
The target assets include 14 cabinet buildings located in the east and west districts of Huitian Network Technology IDC Industrial Park and the BEJN plans to use the assets to develop and operate intelligence computing and data centers in the park.
Huitian Network and its shareholders Yang Meiling and Sun Jianxiu have agreed to enter into supplementary security agreements with BEJN as a security against the refundable earnest money.
Eco-development solutions provider's shares closed nearly 2% higher on Monday.
Price (HKD): $0.17, Change: $+0.0030, Percent Change: +1.79%
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