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Beijing Oriental Yuhong Waterproof Technology Subsidiary Completes Acquisition of Hardware, Plastic Company; Shares Rise 4%

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Beijing Oriental Yuhong Waterproof Technology (SHE:002271) subsidiary Hong Kong Oriental Yuhong Investment completed the purchase of 100% of The Universal Hardware & Plastic Factory, according to a Friday filing with the Shenzhen bourse.

Hong Kong Oriental Yuhong paid a total of HK$215.4 million to sellers Aliaxis Group, Ho On Wah, Ho Cheong Wah, and Ho Hung King.

The amount comprises HK$164.1 million of the enterprise value of the company and HK$51.3 million in estimated net cash and working capital adjustment amount.

Shares rose 4% during afternoon trading on Friday.

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