Haohua Chemical Science & Technology's Parent to Add Company Stake for 646 Million Yuan
Haohua Chemical Science & Technology's (SHA:600378) controlling shareholder, China Haohua Chemical Group, plans to acquire an additional 1.56% of the company for a consideration of 646.4 million yuan, according to a Shanghai bourse filing on Wednesday.The Chinese chemical manufacturer's shares slipped 1% in Thursday morning trade.About 1.25% of the company's stake will be bought from China Foreign Economy and Trade Trust and 0.31% from Sinochem Capital Venture Investment.After the transaction, China Haohua's holdings in Haohua will rise to 47.31% from 45.75%.