Danhua Technology plans to acquire 100% equity of Shenghong Sierbang Petrochemical for 11 billion yuan

On the evening of June 13, Danhua Technology disclosed that it plans to issue 005 billion shares to all shareholders of Jiangsu Sierbang Petrochemical .

Danhua Technology plans to issue 005 billion shares to all shareholders of Sierbang, including 432 billion shares to Shenghong Petrochemical, 37 shares to Bohong Industrial, 273 million shares to CCB Investment, and 64 to Bank of China Asse.

Shenghong Petrochemical and Bohong Industry under the Shenghong Group, as compensation obligors, promised that the total deducted non-net profit of Sierbang in 2019, 2020 and 2021 should not be less than 85 billion yu.

Before the transaction, the actual controller of Danhua Technology was the People's Government of Danyang City, Jiangsu Province, with a shareholding ratio of 179%, and Sierbang was affiliated to Shenghong Gro.

The main business of Sierbang is to purchase methanol as the core raw material, and then produce chemical produc.

The listed company said that through this transaction, the company will invest in chemical assets with strong profitability, and the company's main business will increase the research and development, production and sales of high value-added olefin derivativ.