St Xiali will bid farewell to vehicle business

category:Finance
 St Xiali will bid farewell to vehicle business


In the evening of June 19, * ST Xiali disclosed the related party transaction draft for the sale of major assets and the issuance of shares to purchase assets and raise supporting funds. The overall plan consists of four parts: the transfer of shares of listed companies free of charge, the sale of major assets, the issuance of shares to purchase assets and raise supporting funds.

For free transfer, the controlling shareholder FAW shares transferred 698 million shares of * ST Xiali (43.73% of the total share capital) to tiewu shares for free. After the transfer, there are 4% shares of * ST Xiali in FAW shares.

For the sale of major assets, * ST Xiali plans to sell Xiali operation 10 to FAW after transferring all assets and liabilities owned by it up to the benchmark date, except for 17.5% equity of Xinan insurance and retained input tax, to Xiali operation (retained input tax cannot be changed and will be retained by FAW Xiali to Xiali operation for cash compensation) 0% equity and 17.5% equity of Xinan insurance, FAW asset is designated as the receiver by FAW, and 100% equity of Xiali operation and 17.5% equity of Xinan insurance are directly transferred by * ST Xiali to FAW asset. The total appraisal value of the proposed assets is 17.8581 million yuan.

The next step is to issue shares to buy assets. By issuing shares from * ST Xiali to China tiewu, tiewu, Wuhu Changmao, structural adjustment fund, ICBC investment, Agricultural Bank of China investment, run agricultural Ruihang and Yidun fund, the company purchased 100% shares of China tiewusheng technology, 100% shares of Tianjin Company and 100% shares of total trade in things held by tiewu, with the share issue price of 3.05 yuan / share. Based on the appraisal value, the transaction price of 100% equity of China Railway wusheng Technology Co., Ltd., 100% equity of Tianjin Company and 100% equity of total trade of goods is RMB 12.129 billion after friendly negotiation between all parties.

Finally, the listed company plans to raise supporting funds from no more than 35 qualified specific investors, including iron objects, through non-public issuance of shares. The total amount of supporting funds raised is no more than 1.6 billion yuan, no more than 100% of the transaction price of assets purchased by issuing shares in the transaction, and the number of shares issued by raising supporting funds is no more than 30% of the total share capital of the company before the transaction. Of the raised matching funds, RMB 1555.7 million is used to supplement the target companys working capital, and the rest is used to pay transaction related taxes and intermediary fees. The proportion of matching raised funds used to supplement working capital shall not exceed 25% of the price of the assets to be purchased. It is reported that tiewu, as the controlling shareholder of the listed company after the completion of the transaction, intends to subscribe for the total amount of supporting funds raised not to exceed 400 million yuan. Tiewu shares do not participate in the inquiry but accept the inquiry results, and its subscription price is the same as that of other issuers.

The draft shows that before the transaction, the main business of the listed company is the manufacturing and sales of the whole automobile; with the planned purchase of assets injected into the listed company and the original business of the listed company, after the transaction is completed, the main business of the listed company will be changed to the material supply chain management oriented to the rail transit industry, the technical service of rail operation and maintenance, and the production of engineering materials such as railway construction Manufacturing and integrated service business, whose main business covers all links and material units of rail transit construction, operation and maintenance, provides integrated comprehensive services such as material supply, production coordination, quality supervision, bidding agency, operation and maintenance for rail transit industry and relevant markets around oil, rail, railway mobile equipment materials, engineering construction materials and other fields. According to the market, the trading of * ST Xiali has been suspended since June 16, with the current price fixed at 3.76 yuan / share. Source: editor in charge of interface news: Yang Bin_ NF4368

The draft shows that before the transaction, the main business of the listed company is the manufacturing and sales of the whole automobile; with the planned purchase of assets injected into the listed company and the original business of the listed company, after the transaction is completed, the main business of the listed company will be changed to the material supply chain management oriented to the rail transit industry, the technical service of rail operation and maintenance, and the production of engineering materials such as railway construction Manufacturing and integrated service business, whose main business covers all links and material units of rail transit construction, operation and maintenance, provides integrated comprehensive services such as material supply, production coordination, quality supervision, bidding agency, operation and maintenance for rail transit industry and relevant markets around oil, rail, railway mobile equipment materials, engineering construction materials and other fields.

According to the market, the trading of * ST Xiali has been suspended since June 16, with the current price fixed at 3.76 yuan / share.