Hao Tian International Construction Explores Purchase of Stake in Zero-Emission Automaker

MT Newswires Live07-08

Hao Tian International Construction Investment Group (HKG:1341) is considering acquiring a 49% stake in Target Company, a joint July 5 filing by the company and its substantial shareholder Aceso Life Science Group (HKG:0474) said.

50% of the expected consideration of roughly 1.5 billion yuan will be satisfied by cash, with the remaining 50% being covered through the issue of new shares by Hao Tian International at HK$0.70 apiece.

The construction machinery trader is expected to proceed with the purchase in the fourth quarter of 2024.

The parties have entered into a non-legally binding letter of intent for the purchase of the stake in the target company, which engages mainly in the design and manufacture of zero-emission commercial vehicles.

Hao Tian International's shares closed 8% higher on Monday.

Price (HKD): $0.93, Change: $+0.07, Percent Change: +8.14%

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