Eindec Corporation's (SGX:42Z) controlling shareholder, Weiye Holdings, plans to sell its entire 66.76% stake, comprising 71.9 million ordinary shares, through three agreements signed on Oct. 15, according to a Tuesday filing on the Singapore Exchange.
Zhang Wei, the executive chairman and CEO, will acquire 23.7 million shares; Zhuang Xin, the vice president, will purchase 16.2 million shares; and Henan Weiye Huishenghuo Service will acquire 32 million shares.
Post-transaction, Weiye Holdings will no longer hold shares in Eindec. Zhang will retain a controlling interest, while Zhuang and Henan Weiye Huishenghuo Service will each become controlling shareholders, holding 15.04% and 29.71%, respectively.
Estimated sale prices are SG$948,000 for Zhang's shares, SG$648,000 for Zhuang's, and SG$1.3 million for Henan Weiye Huishenghuo Service's.
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