Zhejiang Construction Investment Group (002761.SZ) plans to issue additional shares to purchase the remaining equity stakes of three subsidiary companies to achieve 100% control over them. Trading will resume on November 20th.

Zhejiang Construction Investment Group (002761.SZ) announced the issuance of shares to purchase assets, raise matching funds, and conduct related transactions. The listed company plans to purchase 13.05% equity of Zhejiang One Construction, 24.73% equity of Zhejiang Two Construction, and 24.78% equity of Zhejiang Three Construction held by Guo Xin Jian Yuan Fund through the issuance of shares, while also issuing shares to a state-owned asset management company to raise matching funds. The estimated value of the minority equity in the target companies in this transaction is approximately 1.338 billion yuan, with an expected transaction price of approximately 1.283 billion yuan after deducting post-closing dividends. The total amount of funds raised through the issuance of shares for matching funds in this transaction shall not exceed 450 million yuan, with the number of shares issued for matching funds not exceeding 62.6741 million shares. The issue price is 7.18 yuan per share. It is reported that the target companies Zhejiang One Construction, Zhejiang Two Construction, and Zhejiang Three Construction are controlled subsidiaries of the listed company, mainly engaged in construction engineering and other businesses, serving as important operating entities in the listed company's construction business sector. After the completion of this transaction, the listed company will achieve 100% control of the target companies, which will promote further synergies in talent, technology, qualifications, etc., strengthen the core competitiveness of the listed company, enhance the overall competitiveness of the industrial chain, and facilitate the overall strategic layout and implementation of the listed company, thus promoting the high-quality development of the listed company. According to the relevant regulations of the Shenzhen Stock Exchange, upon the company's application, the company's stock and convertible bonds will resume trading from Wednesday, November 20, 2024.