New Nanyang to spend $580 million to buy Ngong Li Technology

The 5-month suspension of the new Nanyang (600661) formally announced the reorganization plan, to the specific target issue shares to buy ANG technology 100% Equity and raise supporting funds, the total amount of up to 580 million yuan. In this reorganization, the new Nanyang will be 7.49 yuan/share to the University of Commerce Business Center, starting education, cubic investment and Lo Huiyun, Liu Changko, and other 45 natural persons to buy ANG technology 100% Equity, total equity 77.6764 million shares, the transaction amount of 581.7964 million yuan. In addition, the new Nanyang will be no less than 6.75 yuan/share to meet the requirements of the specific investors non-public offerings to raise supporting funds, the amount does not exceed the total amount of the transaction 25%. Ang state Education was founded in 1984, formerly known as Shanghai Jiao Tong University work-study Technology Center, controlled by Shanghai. The main business includes: foreign language training of the Tofforjas foreign language, Ang Li, Children's training in Shanghai children, century Ang state kindergarten, middle school students in the field of mental cubic student VIP center, middle School students boutique class, and study abroad and in-service education business. At present, there are 4 kindergartens and 60 teaching districts in Shanghai. In the country has 26 direct teaching Center, more than 800 children's English language training schools, more than 400,000 training per year. New Nanyang, formerly known as Shanghai Jiaotong University Nanyang Co., Ltd., is the Shanghai Jiaotong University launched and set up a limited company, its electromechanical integration and precision molding technology, education and services, new energy business, information technology and services, four major business sectors. Among its holding companies, education-related courses include the Shanghai International Cultural Relations College, Nanyang Education Service Co., Ltd., Kunshan Jiaotong University Education Development Co., Ltd., Shanghai Wisdom and Education Information Consulting Co., Ltd., Shanghai Xu Hua Education Development Co., Ltd. and Overseas Education Development Co., Ltd.