[XGNews]: China Mobile invested RMB 4.143 billion to “take over” Qiming star

The following is the [XGNews]: China Mobile invested RMB 4.143 billion to “take over” Qiming star recommended by xgapn.com.

It was deliberated and approved at the second (Interim) meeting of the Fifth Board of directors held by Qiming star on June 17. Qiming star signed the investment cooperation agreement with China mobile capital, which agreed that China mobile capital, as a specific object, would subscribe 284374100 non-public shares of the listed company in cash. After the issuance, China mobile capital would directly hold 23.08% of the shares of the listed company.

It is understood that the issue price of 284million shares subscribed by China Mobile this time is 14.57 yuan / share, and the total amount of funds raised does not exceed 4.143 billion yuan, which is intended to be used to supplement working capital. This issuance constitutes a connected transaction, which will lead to the change of the company control of Qiming star, and the actual controllers of the listed company will be changed from Wang Jia and Yan Li to China Mobile Group.

From the perspective of China Mobile, this acquisition will help its development in the field of cyber security and expand the production of cyber security products and markets. For Qiming star, the future development can be supported and guaranteed by China Mobile in brand, capital, innovation scenarios, technology, channels and other aspects, which is conducive to grasping the development opportunities of the industry.

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