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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
.