"Rich and capricious" play ho purchased Riyadh was investors voting with their feet

Due to a major asset restructuring suspension of more than 3 months of the date of resumption of Riyadh will brutally limit. The evening of January 4th, Riyadh announced a major asset restructuring program, the company intends to invest about 900 million yuan ho purchased two of all equity company. It is reported that the operating results of the two companies in recent years, relatively flat, and had no impact on the impact of IPO alone. It is understood that Riyadh investors very dissatisfied, opened less than half an hour after they limit end, at 20.47 yuan / share.

Why spend nearly 900 million yuan to buy two dull performance company, the reporter called Riyadh secretaries, no one answered the other phone.

Hao buy two trading price of nearly 900 million

According to the reporter, through the issuance of shares and cash payment the company intends to buy laford cultural and Jin Lixiang 100% of the shares, the total transaction price reached 890 million yuan, and to raise matching funds by 238 million, ESOP full subscription.

According to the program, the 100% shares of the culture and culture of Feng Fu price of $647 million 150 thousand, Jin Lixiang shares traded at $242 million 675 thousand valuation of $100%. The company intends to pay a total of 175 million yuan in cash, the remaining part of the shares to pay, the issue price of $17.65 / share, the total number of shares issued about 40 million 500 thousand shares.

In addition, the company intends to Riyadh ESOP shares issued to raise matching funds of not more than 238 million 267 thousand and 100 yuan, according to the calculation of shares issued shares price of 21.31 yuan /, the number of issued shares is not more than 11 million 181 thousand shares. Of which 175 million yuan to pay cash for the transaction price, the remainder will be used to pay for the transaction costs of intermediaries and supplement working capital of listed companies, improve the integration performance after M & A.

It is worth noting that the proposed acquisition of the laford cultural and Jin Lixiang for the 2013 IPO Chechan enterprises. Jin Lixiang's main business for LED equipment leasing and LED stage visual service, and as a well-known cultural and creative enterprises. After the completion of the transaction, the two companies will become a wholly owned subsidiary of riyadh.

Investors dissatisfied with the performance of the company's flat

In addition, according to the results of the commitment, Li Feng culture in 2014, in 2015, in 2016 and in 2017 audited net profit of not less than 28 million yuan, respectively, $54 million, $64 million and $76 million. Jin Lixiang 2015, in 2016, in 2017 and in 2018 audited net profit of not less than 19 million yuan, respectively, $24 million, $29 million and $34 million.

Daily economic news reporter noted that the two companies in recent years, relatively flat operating results. Financial data show that in 2012, 2013 and 2014 three quarter, laford cultural revenues were 220 million yuan, 242 million yuan and 183 million yuan; net profit after deduction of non 19 million 647 thousand and 500 yuan, 17 million 445 thousand and 600 yuan and 16 million 228 thousand and 200 yuan.

In contrast, Jin Lixiang's business situation is not too ideal, the completion of the company operating income of 181 million yuan, 171 million yuan and 75 million 461 thousand and 800 yuan; after deduction of non net profit of 21 million 182 thousand and 600 yuan, 8 million 838 thousand and 800 yuan and 10 million 43 thousand and 300 yuan loss.

For consuming more than three months to acquire two mediocre performance results of the company's shareholders Riyadh is very dissatisfied with the resumption of the day in less than half an hour will limit end. It shares investors have said: "the money wasted all the more than three months". There are investors, said: "the acquisition of the assets of the profit is so low, spend so much money, money is not terrible ah".

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