Guangzhou Huadu Market Construction Co., Ltd. completed the acquisition of a 10% stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangzhou Kingteller Technology Co.,Ltd..
May 08, 2022
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Guangzhou Huadu Market Construction Co., Ltd. agreed to acquire 10% stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangzhou Kingteller Technology Co.,Ltd. (SZSE:002177) for CNY 38.8 million on November 22, 2021. As per the transaction Guangzhou Huadu Market Construction Co., Ltd. will acquire 25 million shares of Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. representing 10% stake. As on July 31, 2021, Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. generated total assets of CNY 4.3 billion and net assets of CNY 493.4 million. The transaction is approved by board of directors of Guangzhou Kingteller Technology Co.,Ltd. The proceeds from the equity transfer will be used to supplement working capital.
Guangzhou Huadu Market Construction Co., Ltd. completed the acquisition of a 10% stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangzhou Kingteller Technology Co.,Ltd. (SZSE:002177) on May 9, 2022.
Guangzhou Kingteller Technology Co., Ltd. is a China-based company, principally engaged in the distribution of automated teller machines (ATMs) and the provision of ATM operation services. The Company operates its businesses through two segments. The ATM Sales segment is primarily engaged in the research and development, production and sales of ATMs and the related system software. The ATM Operation Services segment provides ATMs and related services, including site selection services, equipment maintenance services and technical support services for banks. The Company is also engaged in ATM financial leasing business. The Company conducts its businesses within domestic markets.
Guangzhou Huadu Market Construction Co., Ltd. completed the acquisition of a 10% stake in Guangzhou Huadu Chouzhou Rural Bank Co., Ltd. from Guangzhou Kingteller Technology Co.,Ltd..