Ningxia Building Materials Group Co.Ltd(600449) announced that the company plans to issue shares to all shareholders of CSCEC information to absorb and consolidate CSCEC information. After the completion of this merger, CSCEC information will terminate its listing, Ningxia Building Materials Group Co.Ltd(600449) will inherit and undertake all assets, liabilities, business, contracts, qualifications, personnel and all other rights and obligations of CSCEC information, and CSCEC information will eventually cancel its legal personality. In this share exchange absorption merger, the issuing price of Ningxia Building Materials Group Co.Ltd(600449) shares is 14.14 yuan / share. As of March 31, 2022, the estimated value of 100% equity of CSCEC information is about 2.9 billion yuan. The share exchange ratio of this transaction is 1.3731, that is, 1.3731 Ningxia Building Materials Group Co.Ltd(600449) shares can be exchanged for every share of CSCEC information.
The company plans to sell the control of its cement and other related businesses to Xinjiang Tianshan Cement Co.Ltd(000877) and the estimated value of the assets to be sold has not been determined. The company plans to raise matching funds by non-public offering of shares to no more than 35 specific investors. This transaction is expected to constitute Ningxia Building Materials Group Co.Ltd(600449) major asset restructuring. This reorganization will not lead to the change of the actual controller of the company and does not constitute reorganization and listing. After the reorganization, the main business of Ningxia Building Materials Group Co.Ltd(600449) will be changed, and the controlling rights of relevant assets of raw clinker, cement, commercial concrete and gravel aggregate will be fully integrated by Xinjiang Tianshan Cement Co.Ltd(000877) to eliminate potential horizontal competition Ningxia Building Materials Group Co.Ltd(600449) will integrate the high-quality assets of digital and information services within China Building Materials Group, such as CSCEC information and horse racing IOT, and adjust its positioning to an enterprise level ICT ecological service platform. Its main businesses include value-added distribution of ICT products, cloud and digital services, intelligent logistics, etc. The trading of the company's shares will resume from the opening of the market on April 29.
