FINWIRES · TerminalLIVE
FINWIRES

Everbest Machinery's Founding Shareholder Agrees to Pay Part of Galant's Acquisition; Shares Down 5%

By

Shenzhen Everbest Machinery Industry's (SHE:002980) founding shareholder agreed to take part in the acquisition of Shenzhen Galant Technology, according to a Shenzhen bourse filing on Saturday.

The Chinese thermometer manufacturer's shares slumped 5% during Monday's afternoon trade.

The company plans to acquire Galant in full for 460 million yuan.

The founding shareholder, Yu Xinwen, agreed to pay the first installment of his share of the consideration, which is worth 165 million yuan, to the company before Monday.

The remaining consideration of 59.5 million yuan will be paid within 30 days.

Related Articles

Asia

HD Hyundai Heavy Wins KRW360.7 billion Order for Two VLGCs from Europe; Shares Decline 5%

HD Hyundai Heavy Industries (KRX:329180) won an order for two very large gas carriers (VLGCs) from a Europe-based shipping company, according to a Monday filing with the Korean Exchange.The deal is valued at 360.7 billion won. The shipbuilder will deliver the vessels by Nov. 30, 2029.Shares of the company fell nearly 5% in recent trade.

$KRX:329180
Asia

Industrial Bank Issues 40 Billion Yuan in Tier-2 Capital Bonds

Industrial Bank (SHA:601166) issued its second tranche of Tier-2 capital bonds for the year, which amounts to 40 billion yuan, according to a Shanghai bourse filing on Saturday.The bond has a coupon rate of 1.88% and a term of 10 years, with a conditional redemption at the end of the fifth year.Proceeds will be used to supplement the company's Tier-2 capital.

$SHA:601166
Asia

Adani Ports Forms New Subsidiary in UAE for Shipping Management

Adani Ports and Special Economic Zone (NSE:ADANIPORTS, BOM:532921) has incorporated a subsidiary, Harbour International Shipping, in the UAE for the management and operation of ships, according to a Friday filing to the Indian stock exchanges.The new entity is wholly owned by The Adani Harbour International, a step-down subsidiary of the company.Harbour International has been formed to conduct its offshore operations locally in the UAE, as Adani looks to diversify its fleet globally.

$BOM:532921$NSE:ADANIPORTS