Nanjing High Accurate Drive Equipment Manufacturing Group Co., Ltd. ( “NGC”) is headquartered in Nanjing, P.R.C. Founded in 1969, NGC was listed on the Hong Kong stock exchange in 2007 under the name “China High Speed Transmission Equipment Group Co., Ltd. (“CHS”; Stock Code: 658.HK)”. CHS is large enterprise group that specialized in the production of high-speed and heavy-load transmission equipment. CHS has developed itself into the global transmission industry leader in wind power generation, industrial equipment, machine tools and other business industries.
- On 19 September 2016, the Group made a joint announcement with CHS for the voluntary conditional share exchange offer to acquire all of the issued shares of CHS
- The offer became unconditional in all respects on 21 November 2016 (“First Closing Date”). Over 68% of CHSTE’ shareholders accepted the share exchange offer
- On 5 December 2016, the Group closed the offer with the result of acquisition of 73.91% of issued shares of CHSTE