Hao Tian International Construction Investment Group (HKG:1341) is eyeing a 55% equity stake in SEV Holding, a joint Sept. 27 filing by the company and its substantial shareholder Aceso Life Science Group (HKG:0474) said.
The company entered into a non-legally binding letter of intent with certain shareholders of SEV Holding regarding the potential HK$433.3 million purchase, with an aim to proceed with the acquisition in the fourth quarter.
The consideration for the potential deal will be satisfied through the issue of new shares in Hao Tian International Construction Investment Group at HK$0.35 apiece.
The target company engages mainly in the sale and leasing of electric vehicles, as well as the provision of a one-stop solution of power charging in Singapore.
Shares of construction machinery provider Hao Tian International Construction closed nearly 9% higher on Monday.
Price (HKD): $0.49, Change: $+0.040, Percent Change: +8.89%
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