Huamao Co., Ltd. (000850): Mixed Reform Of Controlling Shareholder And Introduction Of Ningbo Ruiding
Huamao Co., Ltd. (000850) announced on the evening of December 7 that the company received the notice on the progress of mixed ownership reform of Huamao Group, the controlling shareholder. Through the public listing of Changjiang stock exchange for the intended transferee, Ningbo Ruiding New Material Co., Ltd. (hereinafter referred to as "Ningbo Ruiding") has been determined as the transferee of 17.28% equity of Huamao Group which is publicly traded. The transfer price of the shares was 480 million yuan. Through this mixed reform, Huamao Group has introduced strategic investors in the same textile industry, which will form a resource matching upstream and downstream of the industrial chain with Huamao Group and the company, so as to realize the coordinated development of the industry.
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