# Weiqiao Textile Technology to privatize Weiqiao Textile via merger

Weiqiao Textile Technology announced a merger agreement to absorb Weiqiao Textile, offering HKD 3.50 per H-share and CNY 3.180870 per domestic share, valuing the deal at approximately HKD 1.448 billion and CNY 72.84 million.

- Type: Acquisition
- Announced: 2023-12-04
- Where: China
- Value: $194.0M (1.52B HKD)
- Status: announced
- Products: textiles
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Weiqiao Textile](https://endata.com/companies/55137.md) (target)
- [Weiqiao Textile Technology](https://endata.com/companies/74161.md) (acquirer)
- [Weiqiao Pioneering](https://endata.com/companies/74162.md) (investor)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/1033229.html), 2023-12-04: "要约人及公司订立合并协议，据此，要约人及公司将根据合并协议的条款及条件实施合并。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.