Update: CSRC Approves Shunrong Acquisition of Sanqiwan

Shunrong, 12/03/14

Wuhu-based automobile components manufacturer Shunrong Automobile (002555.SZ) has announced that the China Securities Regulatory Commission (CSRC) has authorized it to issue new shares as part of the firm's acquisition of Shanghai-based online game developer and operator Sanqiwan Network Technology.

Shunrong will issue 74,751,500 shares to Sanqiwan president Li Weiwei and 68,389,700 shares to Sanqiwan CEO Zeng Kaitian as part of its purchase of Sanqiwan. The CSRC has also approved Shunrong's non-public offering of no more than 47,713,700 new shares to raise additional funding for the company.

Editor's Note: For more background on this topic, please see "Automobile Components Manufacturer to Acquire Sanqiwan" MD 10/10/13 issue.

Keywords: 002555.SZ Internet CSRC Sanqiwan Li Weiwei Zeng Kaitian Shunrong online gaming M&A

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily