Origin Agritech Ltd., an agriculture technology and rural e-commerce company incorporated in the British Virgin Islands, entered into share subscription agreement with Longhan Investment Management, Co., Ltd. Under the terms of the newly signed agreement, Longhan will purchase 1,397,680 shares of the BVI company, for an aggregate purchase price of US$7,743,147.20.
Previously, Origin and Longhan signed strategic co-operation agreement, according to which both companies will integrate seed treatment, soil treatment technologies and seed breeding & biotechnology, as well as Origin’s agricultural business platform. The current investment into the BVI company is expected to stimulate and speed up the strategic cooperation process.
