Yangzijiang Shipbuilding (Holdings) has subscribed for a 40 percent stake in Anhui Shiyin Yangchuan Industrial for CNY200 million, the Chinese shipbuilder said in a filing to SGX Friday.
The core businesses of Anhui Shiyin, which is based in Hefei City, Anhui Province, in China, are related to technology services, construction building materials, transportation of goods, engineering construction and construction quality checks, the filing said.
The investment was funded via internal resources, Yangzijiang said.
The acquisition isn’t expected to have a significant impact on earnings per share and net tangible assets per share for the current financial year, Yangzijiang said.
The acquisition will be via Yangzijiang’s indirect wholly owned subsidiary, Jiangsu New Yangzi Commerce
& Trading (JNCT), the filing said.