Nanjing Public Utility: Nanjing State-owned Assets Group to indirectly acquire 54.19% of the company

English summary

Nanjing Public Utility announced that Nanjing SASAC will contribute its 100% equity of Urban Construction Group and 66.67% equity of Venture Capital Group to Nanjing State-owned Assets Group as capital increase. After completion, Nanjing State-owned Assets Group will indirectly control 54.19% of the company and become the indirect controlling shareholder. The direct controlling shareholder remains Public Utility Holding and the actual controller remains Nanjing SASAC, both unchanged. The acquisition is exempt from a tender offer.