Egypt Biz News

  • Home
  • Contact
  • Computers and Software
  • Energy and Utilities
  • Aerospace and Defense
  • Manufacturing and Production
  • Lifestyle and Leisure
You are here: Home » Financial Services » Huazhang Technology Will Acquire a Logistics And Warehouse Centre in Guangdong Province at a Consideration of Approximately HK$205 Million

Huazhang Technology Will Acquire a Logistics And Warehouse Centre in Guangdong Province at a Consideration of Approximately HK$205 Million

HONG KONG, CHINA—(Marketwired – Jun 18, 2017) – Huazhang Technology Holding Limited (“Huazhang” or the “Group”) (HKSE: 1673) is pleased to announce that, the Company will acquire the entire issued share capital of the Target Company and the shareholder's loan, at an aggregate consideration of approximately HK$205 million, which would be satisfied in full by the Company's issue of the Consideration Shares upon Completion.

The total number of Consideration Shares to be allotted and issued upon Completion based on the issue price of HK$2.55 per Consideration Share is approximately 80.40 million. The issue price represents a discount of approximately 30.9% to the closing price of HK$3.69 per Share as quoted on the Stock Exchange on the Last Trading Day (16 June). Immediately after Completion and allotment and issue of the Consideration Shares, Swift Fortune Holdings Limited and 777 Logistics Warehouse Holdings Limited will own 8.86% and 2.95% of Huazhang.

The Target Group includes Fu An 777 Logistics Limited, HK Subsidiary and Guangdong Fu An 777 Logistics Warehouse Limited, WFOE.

The Target Group is currently constructing a logistics and warehouse centre on the Project Land located in the Guangdong Province. Upon completion which is expected to be around the end of 2017, the centre can provide bonded logistics services of raw materials, equipment and supplies for papermaking enterprises in the PRC. The Project Land has a total site area of approximately 193,203 square meters. The Project Land was granted by the PRC government with a lease period from 23 December 2015 to 22 December 2065 specified in the land use right certificate.

The Board considers that (a) Guangdong Province is one of the most important bases of the paper industries in the PRC with more than 100 papermaking enterprises, (b) due to the improving national living standard and the shift of market consumption and logistic pattern driven by online shopping, the demand for the production equipment for packaging paper and household paper was strong, (c) in response to the latest policies implemented by the PRC government, the paper industry in the PRC has to leverage on intelligence, automation, human resources and technological innovation to speed up the reform of the enterprises for long–term development and will hence bring numerous business opportunities to the Group and (d) the Acquisition could help strengthen the Group's after–sales and maintenance services, establish a one–stop integrated service platform through further integration of internal resources and promote all–rounded services to papermaking enterprises. The Board considers that, through acquiring the Target Group, the Company will be able to expand its customer base and market share in the market segment of papermaking industry and to meet potential future increasing demands of our products and services through the logistics and warehouse centre.

About Huazhang Technology Holding Limited
The Group is principally engaged in research and development, manufacture and sale of industry automation systems, sludge treatment products and corresponding services. The Group's industrial automation systems and sludge treatment products are custom–built in accordance with the specifications and requirements provided by the Group's customers. The Group is also engaged in the provision of after–sales and other services Group's existing customers.

Chemicals

Chemicals

Financial Services

Financial Services

Transportation and Logistics

Transportation and Logistics

Professional Services

Professional Services

Weather for Cairo
Today Tuesday Wednesday
It is forcast to be Chance of a Thunderstorm at 7:00 PM COT on April 23, 2018
Chance of a Thunderstorm
28°/16°
It is forcast to be Chance of a Thunderstorm at 7:00 PM COT on April 24, 2018
Chance of a Thunderstorm
28°/17°
It is forcast to be Chance of a Thunderstorm at 7:00 PM COT on April 25, 2018
Chance of a Thunderstorm
27°/16°
Tweets by @ahramonline
April 24th 2018

  Egyptian Pound Exchange Rate

 

RSS Daily News Egypt

  • Jazzy, N by Natalie localise biggest spring trends
  • Bambah celebrates Ramadan with colourful flora kaftans
  • Serving growing need for higher education
  • Egypt to implement electronic linkage of food commodity outlets: Supply Ministry
  • Leroy Sané honored in England, now Germany starting berth beckons

Arabic

  • POL: All Chinese ports (ShenZhen/ShangHai...)

  • POL: All Chinese ports (ShenZhen/ShangHai...)

  • POL: All Chinese ports (ShenZhen/ShangHai...)

  • Acapture

  • شركة أرو إليكترونكس تعتزم تقديم أدوات نت سكاوت المتنقلة للتحليل وتشخيص الأعطال وإصلاحها للمساعدة في تحقيق أقصى حد لأداء شبكة الواي فاي (WiFi) في الشرق الأوسط


<< المزيد

Calendar

June 2017
M T W T F S S
« May   Jul »
 1234
567891011
12131415161718
19202122232425
2627282930  

Archives

  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • 0

Hebrew

  • Free Component - email subject

  • Weka.IO

  • LifeBEAM

  • ואיברנט דיגיטל מניעה יכולות חדשות והתרחבות באמצעות מיתוג מחדש לברייטקום

  • Ybrant Digital Fuels New Capabilities and Expansion With Rebrand to Brightcom


<< المزيد

Admin Login

Copyright © 2018 Egypt Biz News