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    Home > Chemicals Industry > China Chemical > The tender offer price is 7.14 yuan per share! Shandong Energy Group intends to "own" Qi Xiang Tengda

    The tender offer price is 7.14 yuan per share! Shandong Energy Group intends to "own" Qi Xiang Tengda

    • Last Update: 2022-11-25
    • Source: Internet
    • Author: User
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    On the evening of November 13, Zibo Qixiang Tengda Chemical Co.
    , Ltd.
    disclosed that the Zibo Intermediate People's Court approved the "Zibo Qixiang Petrochemical Group Co.
    , Ltd.
    Reorganization Plan" (hereinafter referred to as the "Reorganization Plan")
    on November 12.
    According to the plan, 80% of the equity interest in Qi Xiang Group held by Cedar Industrial Group will be transferred to the restructuring investor Shandong Energy Group New Materials Co.
    , Ltd.
    (hereinafter referred to as "Shanneng New Materials"
    ).

    If the "Reorganization Plan" is successfully implemented, the actual controller of Qi Xiang Tengda will be changed
    .
    The controlling shareholder of the company will still be Qi Xiang Group, the indirect controlling shareholder will be changed to Shanneng New Materials, and the actual controller will be changed to Shandong State-owned Assets Supervision and Administration Commission
    .
    It is reported that Shanneng New Materials is a wholly-owned secondary subsidiary of Shandong Energy Group Co.
    , Ltd.
    , and is the main investor and management body
    of the development of new materials industry of Shandong Energy Group.

    According to the announcement, on October 9 this year, Qi Xiang Tengda's controlling shareholder Qi Xiang Group was issued a civil ruling by the Zibo Intermediate Court, ruling that the applicant Shandong International Trust Co.
    , Ltd.
    applied for the restructuring of Qi Xiang Group
    .
    On November 12, the Zibo Intermediate People's Court issued a ruling, approving the Reorganization Plan of Zibo Qixiang Petrochemical Group Co.
    , Ltd.
    and terminating the reorganization procedure
    of Qixiang Group.

    As Shanneng New Materials, as a restructuring investor, acquired 80% of the equity of Qi Xiang Group through the restructuring process, and then indirectly controlled 45.
    91% of the shares of the listed company held by Qi Xiang Group, this triggered the tender offer
    .

    The offer price of the tender offer is RMB7.
    14 per share
    .
    If the company pays dividends, grants shares, converts capital reserve into share capital and other ex-dividend matters between the announcement of the summary of the tender offer report and the expiration of the tender offer period, the offer price and the number of tender offer shares will be adjusted
    accordingly.

    Based on the premise that the offer price is 7.
    14 yuan per share and the maximum number of shares to be acquired is 1458648203 shares, the maximum amount of funds required for this tender offer is 10.
    415 billion yuan
    .

    It is reported that as the main investor and management body of the development of new materials industry of Shandong Energy Group, Shandong Energy New Materials was established on August 26, 2022, with a registered capital of 100 million yuan, the company is located in Zhangdian District, Zibo City, and Shandong Energy Group holds 100% of its shares
    .

    Shandong Energy Group is a large-scale energy enterprise group established by the Shandong Provincial Party Committee and the provincial government in July 2020 to jointly reorganize the former Yankuang Group and the former Shandong Energy Group, with mining, high-end chemical industry, electric power, new energy and new materials, high-end equipment manufacturing, and modern logistics and trade as the leading industries
    .
    In 2021, it will achieve an operating income of 752.
    1 billion yuan, a total profit and tax of 53.
    1 billion yuan, and total assets of 751.
    4 billion yuan at the end of the year, ranking 69th among the world's top 500 companies in 2022
    .

    According to the data, Qi Xiang Tengda has formed a complete carbon four deep processing industry chain, and extended to the carbon three industry chain, its methyl ethyl ketone products have a gross profit margin of 35.
    76% in 2021, and the domestic market share continues to maintain about 50%, accounting for more than 70% of the domestic export share; The gross profit margin of maleic anhydride is 44.
    46%, the domestic market share is about 20%, accounting for more than
    50% of the domestic export share.

    In 2021, the annual output of major chemical products of Qi Xiang Tengda will be 1.
    6748 million tons, an increase of 2.
    61% year-on-year; achieved operating income of 24.
    686 billion yuan, down 17.
    87% year-on-year; The net profit attributable to shareholders of the listed company was 976 million yuan, a year-on-year increase of 57.
    25%; Total assets were 20.
    639 billion yuan, a year-on-year increase of 46.
    06%.

    In 2022, despite the impact of many factors such as the sharp rise in international oil prices and commodity prices, Qi Xiang Tengda still achieved operating income of 23.
    278 billion yuan from January to September, and net profit attributable to the parent of 1.
    049 billion yuan
    .

    According to the announcement, after becoming an indirect controlling shareholder of a listed company, Shanneng New Materials will fully respect the independence of the listed company, and rely on the resource advantages of itself and its parent company Shandong Energy Group to support the listed company to steadily promote the strategic layout of the carbon three industry chain on the basis of comprehensively doing fine and fine carbon four industrial chains, improve the integration of production in midstream factories, accelerate digital transformation, lay out the refinement, high-end and scale of downstream products, and at the same time increase the expansion of overseas business of listed companies to alleviate the pressure on the domestic market.
    Continuously deepen its strategic synergy with Shanneng New Materials and Shandong Energy Group in the industrial sector, focus on enhancing the market competitiveness and industry influence of listed companies, and march into world-class chemical enterprises
    .


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