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    Home > Chemicals Industry > Rubber Plastic News > Luxi Chemical intends to absorb 100% of Luxi Group's shares and will be suspended from trading on April 18

    Luxi Chemical intends to absorb 100% of Luxi Group's shares and will be suspended from trading on April 18

    • Last Update: 2022-09-29
    • Source: Internet
    • Author: User
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    On the evening of April 17, the chemical leader Luxi Chemical (000830) announced that the company is planning to issue shares to purchase 100% equity of Luxi Group Co.


    Luxi Chemical merged with Luxi Group

    Luxi Chemical merged with Luxi Group

    Luxi Chemical said that the company expects to disclose the transaction plan within 10 trading days, that is, to disclose relevant information as required before May 5, 2022.


    Luxi Group is a state-owned holding company.


    The main counterparties in this transaction are Sinochem Investment Development Co.


    On April 15, 2022, Luxi Chemical, Luxi Group and the counterparty signed the "Intention Agreement on Absorption and Merger of Luxi Chemical Group Co.


    After the implementation of this merger by absorption, Luxi Group will cancel its legal personality, and the shares of listed companies held by Luxi Group will be cancelled.


    Business boom

    Business boom

    Benefiting from the obvious growth in the market demand for the company's main chemical products, the product prices have increased significantly year-on-year.


    In January last year, Sinochem Investment fully subscribed 439 million shares of Luxi Chemical's non-public offering, the direct shareholding ratio increased to 23.


    In May 2021, Sinochem was jointly reorganized and established by Sinochem Group and China National Chemical Corporation.


    On September 3 last year, Luxi Chemical disclosed the "Acquisition Report of Luxi Chemical Group Co.


    On November 30 last year, Luxi Chemical Co.


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