Tsaker New Energy Tech Unit Sells 3.76% Stake in Pigment Manufacturer

MT Newswires Live11-26

Tsaker New Energy Tech's (HKG:1986) unit Tsaker Chemical (Hong Kong) agreed to sell a total of 2,389,432 shares in Hebei Tsaker New Materials Technology to three buyers for nearly 40 million yuan, a Monday Hong Kong bourse filing said.

The shares represent a roughly 3.76% equity interest in the pigment maker and seller. Of the total, Changzhou Xinjin Ruiying Venture Capital, Xingaodi Capital, and Zhongtai Securities will acquire 1.64%, 1.18%, and 0.94% stakes respectively.

A key condition of the sale is tied to Hebei Tsaker New Materials Technology's planned listing on the Beijing Stock Exchange. If the company fails to complete the listing process by Dec. 31, 2027, the buyers have the option to require the seller or a designated third party to repurchase the shares.

Hebei Tsaker New Materials Technology initiated its listing application with the National Equities Exchange and Quotations (NEEQ) in November 2022, seeking to tap the Chinese market for small and medium-sized enterprises.

Shares of the dye and agricultural chemical intermediate manufacturer were up over 2% in recent trade.

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