Movement Alert|CHINASOFT INT'L Rises 5.04% in Regular Trading, Plans RMB 944 Million Acquisition of Approximately 29.68% Stake in Jingwei Information

Market Focus
Sep 18

On September 18, CHINASOFT INT'L rose 5.04% in regular trading, trading at HK$3.855/share, with turnover of approximately HK$69.98 million.

On the news front, CHINASOFT INT'L announced on September 16 that its indirect wholly-owned subsidiary, Chinasoft International (Xi'an) Intelligent Technology Co., Ltd., entered into a share transfer agreement with Mr. Ye Xiaohua and six other sellers to acquire approximately 17,806,240 A-shares of Hangzhou Jingwei Information Technology Co., Ltd., representing approximately 29.68% of Jingwei Information's issued share capital. The total consideration amounts to approximately RMB 943.73 million, equivalent to approximately HK$1.095 billion, to be settled entirely in cash.

CHINASOFT INT'L is an investment holding company primarily engaged in providing IT solution services and IT outsourcing services, with a focus on industries including energy and power, finance, transportation, public security, and housing and construction. The proposed acquisition signals the company's strategic expansion into complementary IT service capabilities.

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