echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Rubber Plastic News > Shenma shares 2 billion acquisition of nylon chemical company to complete the restructuring

    Shenma shares 2 billion acquisition of nylon chemical company to complete the restructuring

    • Last Update: 2022-08-24
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Recently, Shenma shares through the issuance of shares and convertible bonds, the major asset reorganization plan to purchase 37.
    72% equity of Nylon Chemical Company for 2.
    086 billion yuan was unconditionally approved by the China Securities Regulatory Commission on August 19


    .


    As early as 2010, China Pingmei Shenma Group promised to let Pingmei Shenma acquire the equity of Nylon Chemical Company through acquisition to build a complete nylon chemical industry chain


    .


    This time, Shenma shares will purchase 848.
    7 million shares of nylon chemical company held by the company's controlling shareholder China Pingmei Shenma Group through the issuance of shares and convertible bonds, at a transaction price of 2.
    086 billion yuan


    .


    After the transaction is completed, Shenma will hold a controlling stake in Nylon Chemical Company, and integrate the production and sales of nylon 66 salt, refined adipic acid, hexamethylenediamine and other products


    .


    Shenma's current main business is the production and sales of nylon 66 industrial yarn, cord fabric, chips and other products


    .


    Due to historical reasons, the related assets of the nylon 66 salt industry under the controlling shareholder China Pingmei Shenma Group failed to be listed with Shenma as a whole, which led to a large connected transaction between Shenma and Nylon Chemical Company


    .


    After the acquisition is completed, there will be fewer large connected transactions between the two companies, which Shenma believes will maintain the asset integrity of the listed company and further improve the governance level and operational independence of the listed company


    .


    According to previously disclosed information, Nylon Chemical's nylon 66 salt production capacity ranks first in Asia and fourth in the world, with strong competitive advantages and profitability


    .


    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.