Xingzheng Securities Asset Management Co., Ltd. acquired additional 12.5% in Saimo Electric Co., Ltd. from Li Da and Jiangsu Saimo Technology Co., Ltd. for approximately CNY 400 million.
November 28, 2019
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Xingzheng Securities Asset Management Co., Ltd. signed an equity transfer agreement to acquire additional 12.5% in Saimo Electric Co., Ltd. (SZSE:300466) from Li Da and Jiangsu Saimo Technology Co., Ltd. for approximately CNY 400 million on September 26, 2019. As per terms, a total of 67.2 million shares will be acquired at CNY 6 per share. Li Da is selling 31.8 million shares and Jiangsu Saimo Technology Co., Ltd. is selling 35.4 million shares. Post completion, Xingzheng Securities Asset Management Co., Ltd. will hold 75.5 million shares.
Xingzheng Securities Asset Management Co., Ltd. completed the acquisition of additional 12.5% in Saimo Electric Co., Ltd. (SZSE:300466) from Li Da and Jiangsu Saimo Technology Co., Ltd. on November 26, 2019.
Saimo Technology Co Ltd, formerly Saimo Electric Co Ltd, is principally engaged in the research and development, manufacturing and sales of measurement and inspection equipment for coal and other mineral materials. Its major measurement equipment is belt weigher, including electronic belt weighers, weighing type coal feeders and weighing feeders. The inspection equipment mainly comprises of mechanical automated inspection device. The Company's products are used in electricity, steel, chemicals, cement materials, ports and other industries.
Xingzheng Securities Asset Management Co., Ltd. acquired additional 12.5% in Saimo Electric Co., Ltd. from Li Da and Jiangsu Saimo Technology Co., Ltd. for approximately CNY 400 million.
SAIMO TECHNOLOGY CO.,LTD. 
