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Ultrapower Plans to Invest in Bridge Minds
[September 02, 2013]

Ultrapower Plans to Invest in Bridge Minds


BEIJING, Sep 02, 2013 (SinoCast Daily Business Beat via COMTEX) -- Beijing Ultrapower Software Co., Ltd. (SZSE: 300002) announced on August 30 that it plans to invest over-raised capital in its subsidiary Ultrapower Software (Hong Kong) Co., Ltd. (transliterated) to acquire stake in Bridge Minds Consulting Pte Ltd.



According to the plan, Ultrapower will invest CNY 60 million in the Hong Kong subsidiary, which will acquire a 55% stake in Ultrapower from Chen Bin for CNY 44 million. After this, the stake held by the Hong Kong subsidiary in the acquiree will have increased from 25% to 80%. Meanwhile, the Hong Kong subsidiary and Chen Bin will also invest a total of CNY 20 million in the acquiree by a proportion of 80% and 20% respectively. Of the CNY 20 million, CNY 16 million will be invested by the Hong Kong subsidiary.

After this deal, Bridge Minds will expand the integrated communication business overseas as an important carrier of Ultrapower's overseas business.


Source: www.stcn.com (September 02, 2013)

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