Last night, Nanyang issued an announcement to acquire a 100% stake in Xinsanban Tianrongxin shares for RMB 5.7 billion, including a cash payment consideration of RMB 2.08 billion, a share payment consideration of RMB 3.62 billion, and a share issue price of RMB 8.66 per share. Issued 418 million shares. At the same time, it raised 2.12 billion yuan in matching funds, and raised matching funds to be used mainly to pay for the cash consideration for this transaction. The offering price of the matching funds was raised at 9.70 yuan per share and the number of shares issued was 219 million shares.
Tianrongxin is a veteran network security company. It is in line with VenusStar and NSFOCUS. It has a large market share in firewall and intrusion prevention. As early as May, Tianrongxin issued an announcement on the progress of planning major events. The announcement stated that due to the major issues being planned, there are still uncertainties in the relevant matters. According to the relevant laws and regulations, the company's stock has suspended its transfer since May 3, 2016. It is expected that the latest transfer of shares will be August 2, 2016.
After the completion of the transaction, Tianrongxin will delist from the New Third Board and successfully enter the capital market, becoming a wholly-owned subsidiary of Nanyang. Zheng Zhongnan will directly and indirectly control 25.92% of Nanyang's shares and remain the controlling shareholder and actual controller of the listed company.
Nanyang Co., Ltd. is the full name of Guangdong Nanyang Cable Group Co., Ltd. and specializes in the production of wire and cable and PVC products for wire and cable production. In an announcement, the announcement said that the acquisition will help the company quickly enter the information security industry with broad market prospects and high technical barriers, break through the bottleneck of its main business growth, and expand profitability.
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