Press Release
Fcib acted as the sole independent financial advisor and sole underwriter of The m&a transaction and its concurrent financing via private placement
FCIB acted as the sole independent financial advisor and sole underwriter of the M&A transaction and its concurrent financing - Jiangsu Zitian Media Technology Co., Ltd (hereinafter referred to as “Zitian Technology”, “the Company”, Code: 300280.SZ) acquiring 70% equity of the target company, ALLWAYS Media Co., Ltd (hereinafter referred to as “ALLWAYS”, “the Target”) with newly-issued shares and cash and issuing shares to raise supporting capital.(hereinafter referred to as “The transaction”) The transaction was successfully completed with new issued shares for asset acquisition listing on May 31st 2018 and for concurrent financing listing on May 14th 2019 in which the Company acquired 70% equity of ALLWAYS at RMB 924 million and raised RMB 445.8 million supporting capital.
The Company listed in the A-share GEM market in Dec. 2011 and its original main business is the R&D, production and sales of metal forming equipment. As the Company had the need for transformation and was optimistic about the advertising industry, combined with their own competitive advantages, the Company has established the strategic goal of the dual main business development of equipment manufacturing and advertising services.
The Target's main business is the development and operation of video media for commercial buildings. The ALLWAYS uses “Building HD Digital 3.0 Media” as its core media to make promotions and marketing plans for brand customers, Fortune 500 companies and regional famous brands. The ALLWAYS has formed an advertising media network covering many cities across the country, and accumulated a number of high-quality customers.
The transaction will help the Company enter the commercial advertising video industry, creating an advertising business segment and deepening the industrial layout of the modern advertising service industry, and forming an outstanding brand of the whole industry chain and one-stop advertising service. The implementation of this project has won high recognition from all parties and the capital market.
