Jusda International Fully Acquires Joyspeed Global Cargo
Jusda International Completes Acquisition of Joyspeed Global
In a transformative move, Jusda International Limited has secured full ownership of Joyspeed Global Cargo (China) Limited. The acquisition represents a significant investment, with a total purchase price of HKD 462,060,000 for the remaining shares.
Details of the Acquisition
The transaction, which involved the purchase of 3,920,000 shares at a unit price of HKD 117.87 each, was finalized recently. With this acquisition, Jusda now possesses a total of 8,000,000 shares of Joyspeed Global Cargo, consolidating its position in the logistics industry.
Strategic Importance of the Deal
This strategic acquisition aligns with Jusda's long-term investment strategy, reflecting its commitment to enhancing its operational capabilities. The shares were acquired from Wu's Limited, a third-party entity, through fair negotiation based on current market valuations as endorsed by Jusda’s Board of Directors.
Primary Considerations
According to reports, there were no objections from the company's directors concerning the transaction. Importantly, this acquisition does not indicate any change in Jusda’s existing business model and has a minimal impact on the company's financial structure. Representing just 0.10% of Jusda's total assets and 0.22% of the equity attributable to the owners, this investment is designed to strengthen the overall portfolio.
Funding and Financial Insights
The net worth per acquired share stands at NTD 46.06. The funding for this transaction comes from private capital, ensuring that no broker fees were incurred throughout the process. Furthermore, the acquisition was unobstructed by significant terms or restrictive covenants.
Compliance and Oversight
It is noteworthy that this transaction has not necessitated a board resolution, ratification by supervisors, or approval from the Audit Committee. The independent certified public accountant, Danny Cheng from ATAX Accounting Firm, has confirmed the transaction’s legitimacy without expressing any unreasonable opinions, reinforcing the transparency of the deal.
Conclusion: A Major Milestone for Jusda
This strategic acquisition marks a crucial milestone for Jusda International, as it strengthens its foothold in the logistics sector. With this full ownership, Jusda is poised to leverage Joyspeed Global Cargo’s capabilities to enhance its service offerings and operational efficiency.
Frequently Asked Questions
What is the main benefit of this acquisition for Jusda?
The acquisition allows Jusda to strengthen its logistics capabilities and consolidate its market position, aligning with its long-term investment strategy.
Who did Jusda acquire Joyspeed Global Cargo from?
Jusda acquired Joyspeed Global Cargo from Wu's Limited, a non-related third party.
What is the total purchase price for the acquisition?
The total purchase price for the acquisition was HKD 462,060,000.
How many shares does Jusda now own in Joyspeed Global?
After the acquisition, Jusda now owns a total of 8,000,000 shares in Joyspeed Global Cargo.
Has the transaction involved any related parties or brokers?
No, the transaction has not involved any related parties or brokers, maintaining straightforward negotiations without associated fees.
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