Zhongbing Investment Management Co., Ltd. entered into an equity transfer agreement to acquire additional 5% stake in Ling Yun Industrial Corporation Limited from North Lingyun Industrial Group Co., Ltd. for approximately CNY 260 million.
Zhongbing Investment Management Co., Ltd. entered into an equity transfer agreement to acquire additional 5% stake in Ling Yun Industrial Corporation Limited (SHSE:600480) from North Lingyun Industrial Group Co., Ltd. for approximately CNY 260 million on May 9, 2020. Under the terms, Zhongbing Investment will acquire 27.42 million shares at a price of CNY 9.5 per share. Within 5 working days after the signing of this agreement, Zhongbing shall pay the amount of 30% of the target share transfer price as a security deposit, and the remaining price (70% of the transfer price) shall be fully settled before the transfer of shares.