Oriental Shenghong will acquire 100% equity of Jiangsu Silbang Petrochemical

On May 12 , Dongfang Shenghong announced that the company intends to purchase 100% equity of Jiangsu Serbon Petrochemical Co.

On May 12 , Dongfang Shenghong announced that the company intends to purchase 100% equity of Jiangsu Serbon Petrochemical Co.

As of the signing date of the plan, the audit and evaluation of the transaction has not been completed, and the valuation and pricing of the underlying assets have not yet been determined.

The transaction involves the issuance of shares to purchase assets, which must be submitted to the M&A and Reorganization Commission for review and approval by the China Securities Regulatory Commission before it can be implemented.

The target company Serbon is a large-scale private petrochemical enterprise focusing on the production of high value-added olefin derivatives.

Through this transaction, the company will place high-quality assets with strong profitability.
The company’s main business will further expand and increase the research and development, production and sales of high value-added olefin derivatives.
The main product range will add a series of diversified petrochemical and fine chemicals such as acrylonitrile, MMA , EVA , EO and its derivatives.
, Help to enhance the sustainable development ability and core competitiveness of listed companies.