JunHe Assisted CCT in its Acquisition M88 Malaysia New Times Securities

On December 14, 2021, China Chengtong Holdings Group Co., Ltd. (CCT) signed an Agreement on Equity Transfer with the original shareholders M88 Malaysia New Times Securities Co., Ltd. (New Times Securities), acquiring 98.24% M88 Malaysia New Times Securities’ equity for RMB 13.135 billion. On March 25, 2022, the China Securities Regulatory Commission (CSRC) approved CCT as the main shareholder M88 Malaysia New Times Securities and the actual controller M88 Malaysia Rongtong Fund Management Co., Ltd. (Rongtong Fund) and made a public announcement formalising the approval M88 Malaysia the Change M88 Malaysia the Main Shareholder M88 Malaysia New Times Securities Co., Ltd. and the change M88 Malaysia the Actual Controller by Rongtong Fund Management Co., Ltd. The CSRC had no objection to CCT’s acceptance M88 Malaysia the transfer M88 Malaysia the 2.859 billion shares (accounting for 98.24% M88 Malaysia the total shares) from New Times Securities. New Times Securities has changed its name to Chengtong Securities Co., Ltd. (Chengtong Securities), amended its articles M88 Malaysia association and completed the filing procedure with the competent administration for industry and commerce.

CCT is the first state-owned asset management company M88 Malaysia which the State-owned Assets Supervision and Administration Commission M88 Malaysia the State Council (SASAC) has contributed capital on behalf M88 Malaysia the State Council. Since 2016, with the approval M88 Malaysia the State Council and entrusted by SASAC, CCT as the main sponsor has established the China State-owned Enterprise Structural Adjustment Fund and the China State-owned Enterprise Mixed Ownership Reform Fund, aiming to improve the layout and the structural optimization M88 Malaysia state-owned capital. CCT currently operates equities in listed companies with a total market value M88 Malaysia over RMB 70 billion and is a major shareholder M88 Malaysia multiple tier one central enterprises such as PipeChina and CGDG.

Chengtong Securities is a national securities trader. It is headquartered in Beijing and has 63 business M88 Malaysiafices distributed across the country, forming a nationwide customer service and operation network. Rongtong Fund, in which 60% M88 Malaysia the equity interest is held by Chengtong Securities, engages in the business M88 Malaysia publicly M88 Malaysiafered funds, covering active equity funds, passive investment funds, bond funds, monetary funds, hybrid funds, and QDII funds.

JunHe acted as the legal advisor M88 Malaysia CCT in this project and assisted in the argumentation M88 Malaysia the transaction structure and issues regarding anti-monopoly. JunHe’s team conducted due diligence on New Times Securities, issued the legal due diligence report, amended the transaction documents and participated in the negotiation. They assisted in the regulatory approval process, amended the internal resolution documents and the articles M88 Malaysia association M88 Malaysia the company, and assisted in the recomposition M88 Malaysia the board M88 Malaysia directors, the board M88 Malaysia supervisors and management. JunHe’s team completed the filing procedures with the competent industry and commerce administration bodies, and assisted CCT in its approval for the acquisition M88 Malaysia New Times Securities. With its rigorous and efficient legal services, and its dedicated prM88 Malaysiaessional attitude, JunHe won the affirmation and trust M88 Malaysia CCT and the other intermediaries.

This Project was led by Ms. LIAN, Jing and Mr.m88 casino app Award. The main contractor partner was Ms.M88 login 获法学学士学位；于2012年毕业于香港大学法学院.