|Boosts Group's Business Potential|
HONG KONG, Feb 18, 2019 - (ACN Newswire) - Win Win Way Construction Holdings Ltd. ("Win Win Way" or the "Group"; stock code: 0994) announced that CT Vision Investment Limited ("CT Vision") has become its controlling shareholder after completion of its acquisition of 312,120,000 issued shares of the Group from Condover Assets Limited ("Condover Assets").
Pursuant to the sale and purchase agreement entered into between CT Vision and Condover Assets, CT Vision agreed to acquire 312,120,000 issued shares of the Group equivalent to 51% of the Group's entire issued share capital held by Condover Assets at a consideration of HK$262,180,800, equivalent to approximately HK$0.84 per sales share.
The management of Win Win Way believes that CT Vision's joining the Group as a strategic shareholder would assist to develop the business of the Group by leveraging on CT Vision's (i) experience and technology in the application of renewable energy in the construction sector; and (ii) international investment experience and business network in the construction sector in the mainland China and overseas. Looking ahead, CT Vision will explore other business opportunities for the Group, including the feasibility of diversifying the income stream of the Group.
About Win Win Way Construction Holdings Ltd.
Founded in 1999, Win Win Way Construction Holdings Ltd. is a construction company principally providing foundation works and ancillary services, as well as general building works in Hong Kong. The Group has more than 18 years of experience in the construction industry in Hong Kong, undertaking projects of various natures, including commercial complexes, hospitals, hotels, housing estates, schools, industrial buildings and private residential buildings.
About CT Vision Investment Limited
CT Vision Investment Limited is a company incorporated on 7 March 2018 in the British Virgin Islands with limited liability principally engaged in investment holding and wholly owned by Ms. Lin Zhiling as to 44.80%, Dr. Ho Chun Kit Gregory as to 22.40%, Mr. Lam Chun Keung as to 22.40%, Mr. Wu Rui as to 7.80% and Everenjoy Investments Limited as to 2.60%.
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Topic: Press release summary
Source: Win Win Way Construction Holdings Ltd.
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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