Truking Technology (SHE:300358) plans to absorb and merge with its subsidiary, Hunan Chutian Huaxing Intelligent Equipment, according to a Monday filing on the Shenzhen Stock Exchange.
Currently, the Chinese aseptic filling and freeze-drying equipment manufacturer holds 80.7% of Chutian Huaxing, which has a registered capital of 42.2 million yuan.
The company will buy the remaining 14.1% and 5.2%, which it does not yet own, from Hu Hui and Changsha Huasheng Enterprise Management Consulting Service Partnership (Limited Partnership), respectively, for 12.7 million yuan.
Truking Technology will take over Chutian Huaxing's assets and liabilities to complete the merger, the filing said.
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