According to the Chinese media report, the electronics company, Haier Smart Home has recently made an announcement that it has canceled all the shares of Haier electric which were planned earlier. The company has issued the same amount of new shares in place of the canceled shares.
The company and its wholly-owned subsidiaries hold all the issued shares of Haier Electric. Haier Electric has become a wholly-owned subsidiary of the company. The transfer of the underlying assets of this transaction has been completed. Haier Electric was delisted from the Hong Kong Stock Exchange on December 23.
The announcement pointed out that all planned shares of Haier Electric have been canceled. At the same time, Haier Electric has issued to Haier Smart Home the same number of new shares as the canceled planned shares. The company and its wholly-owned subsidiary held 2,816,995,476 issued shares of Haier Electric, and Haier Electric became a wholly-owned subsidiary of the company.
In addition, after the completion of this transaction, Haier Electric has become a wholly-owned subsidiary of Haier Zhijia and remains an independent legal entity. All of its claims and debts are still owned or borne by it. This transaction does not involve the transfer of Haier Electric’s claims and debts.
(Source)
