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Neusoft's Share Deal Approved In China
December 27, 2007 |
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Shenyang Neusoft Company, a subsidiary of Chinese software firm Neusoft Group Ltd., says its share-swap merger plan with Neusoft Group Ltd. was approved by the Restructuring Committee under the China Securities Regulatory Commission.
Dr. Liu Jiren, chairman of Neusoft Co., Ltd. and chairman and CEO of Neusoft Group Ltd., states that the upcoming overall listing will be a milestone in Neusoft's history and have a far-reaching influence on its growth. The overall listing will help Neusoft further enhance its company-wide governance.
Neusoft Co., Ltd. has currently a capital stock of CNY280 million, among which, 50.30% is held by the holding shareholder, Neusoft Group Ltd. Based on the merger plan, Neusoft Co., Ltd. is to exchange its shares with Neusoft Group Ltd. at a ratio of 1:3.5 to complete the merger. Neusoft's total capital stock will rise up to CNY520 million after such a merger.
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