Ningxia Building Materials Group Co.,Ltd (SHSE:600449) agreed to acquire China National Building Materials Technology Co.,Ltd. from CNBM Smart Internet Co. Ltd. and others for CNY 3 billion on April 29, 2022. As per the transaction, Ningxia Building Materials Group Co.,Ltd will issue 213,235,294 shares to the target shareholders.

Shares It can be exchanged for CNY 1.4277 shares of Ningxia Building Materials. Ningxia Building Materials will acquire China National Building Materials Technology Co., Ltd.'s 100% stake through a share exchange at a ratio of 1:1.1815. The transaction is approved by board of directors of Ningxia Building Materials Group Co.,Ltd and China National Building Materials Technology Co.,Ltd. and is subject to regulatory approvals, shareholder's approval of Ningxia Building Materials Group Co.,Ltd and China National Building Materials Technology Co.,Ltd.