AllBright Client Wins Approval for Acquisition2014-07-114021
On July 10, 2014, AllBright client Suzhou Baomax Technologies Group Co., Ltd. (002514) won approval from the China Securities Regulatory Commission for its major asset restructuring application, subject to certain preconditions.
Baomax proposed to purchase complete ownership of Nanjing YZ Wisdom Technology Co., Ltd. through cash and by issuing shares. It also proposed to sell shares in a private placement among no more than 10 designated investors to raise no more than 25% of the funds to finance the acquisition. Nanjing YZ Wisdom is a leading company in automatic monitoring systems for pollution sources and combustion optimization.
AllBright partner Lawrence Zhu led the team, which included partners Ark Bao, Que Lina and Zheng Yuan as well as associates Rossana Zhao and Qian Shuangjie, to advise the client through the procedure.