The company's stock price fell 1.33% on Tuesday (May 27) to close at 0.37 yuan. The company plans to privatize Golden Land after completing the acquisition. Golden Land issued a statement on Monday (May 27) evening saying that Lyon has acquired...
The company's stock price fell 1.33% on Tuesday (May 27) to close at 0.37 yuan.
The company plans to privatize Golden Land after completing the acquisition.
Golden Land issued a statement on Monday (May 27) evening saying that Lyon has acquired 1.14 billion shares, accounting for 26.85% of the total shares. The acquirer held 2.99 billion shares, equivalent to 70.3% of the shares before submitting the acquisition proposal. If the shares acquired from shareholders are added, the acquirer currently holds 97.14%.
Lyon Investments is the controlling shareholder of Golden Land and is controlled by the family of the late Indonesian tycoon Huang Yicong. The company originally proposed a purchase price of RMB 0.31 per share, with a total valuation of RMB 1.32 billion, but the company raised the purchase price to RMB 0.375 on May 18.
Lyon Investments, which proposed a comprehensive acquisition proposal to Sinarmas Land, has acquired more than 90% of the equity and has initiated a mechanism to force the acquisition of the remaining shares.
