If he added the equity of Puwei Group that he previously held, the total holdings will reach 54.93%. Then he proposed a mandatory conditional acquisition proposal to acquire the remaining shares at a price of RMB 0.40 per share. The purchase price is 7.8% higher than the weighted average trading volume price (0.371 yuan) in the past month.
If calculated based on the paid capital of Puwei Group of 177.3 million yuan, Wei Chenghui's total acquisition amount will reach 123.5 million yuan.
The statement also said that the acquisition price will not be reduced or adjusted due to the final dividend of 1.3 cents last fiscal year.Pizza King Wei Chenghui proposed a mandatory conditional acquisition proposal to PSC Corporation, with the total acquisition amount expected to exceed 100 million yuan.
Puwei Group's share price fell 2.4% on Thursday to close at 0.40 yuan.
Wei Chenghui is also the executive chairman of Puwei Group, and he has increased his holdings in the company many times in the past few years. Although he plans to acquire the rest of the equity, he does not intend to delist the company.
Puwei Group issued a statement on the Singapore Exchange website on Thursday (July 10) saying that Wei Chenghui acquired 63 million shares from Sin Huat Company at a price of RMB 0.40 per share through a marriage deal, equivalent to 11.55% of the shares.