Kong Sun to acquire 50% stake in China Flood Prevention and China Environment

Kong Sun Holdings (0295) announced to spend HK$30 mln and HK$26 mln to acquire 50% shareholding in China Flood Prevention and 50% shareholding in China Environment from two independent persons. The consideration would be financed by issuing 140 mln new shares plus HK$2 mln cash and issuing 120 mln new shares plus HK$2 mln cash.   

The price of the new shares was HK$0.2 each, 9.09% discount to the closing price of HK$0.22 before suspension and the two batches of new shares represented about 11.59% and 9.93% respectively of the enlarged shares capital of Kong Sun Holdings.

Related stock : (295)