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01570 WEIYE HOLDINGS
RTNominal unchange3.180 0.000 (0.000%)
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13/12/2019 09:02

Weiye Holdings (01570) to get 51% of Henan land use rights

[ET Net News Agency, 13 December 2019] Weiye Holdings Limited (01570) said Zhengzhou
Weizhiyun (an indirect wholly-owned subsidiary of the company) entered into a capital
increase agreement with Henan Shuiyun and the target company (Xincai Shuiyun Caizhoucheng
Property Co. Ltd.).
Zhengzhou Weizhiyun agreed to subscribe for the increased registered capital of RMB10.41
million and share premium of RMB24.59 million of the target company. Upon completion, the
target company will be held as to 51% by Zhengzhou Weizhiyun and 49% by Henan Shuiyun,
respectively.
The target company is principally engaged in property development. The principal assets
of the target company are the land use rights located in Xincai City, Henan Province, the
PRC. (RC)

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