Pak Tak International (HKG:2668) acquired the entire issued share capital of Zhongchuan Investment Group from Zhongchuan Investment Holding for 289.9 million yuan.
The consideration was settled by allotting and issuing 950 million shares of the company to the vendor at HK$0.336 apiece, a Tuesday Hong Kong bourse filing said.
The consideration shares represent 16.87% of the enlarged issued shares of the company.
After the transaction, the target will become a subsidiary of the company while the vendor will become a substantial shareholder of the company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.