Phoenix New Media Hong Kong Stock | Bojun Education (01758) announced that the subsidiary intends to acquire a total of 51% of the shares of Sichuan Zhengzhuo Education Investment Co., Ltd., with a total consideration of 283 million yuan (RMB, the same below). Of this, 136 million yuan will be paid through the company's allotment and issue of 195 million consideration shares to Sichuan Zhengzhuo (or its nominee) at the issue price of HK $0.85 per share.

In addition, the subsidiary intends to acquire a total of 51 per cent of the shares in Sichuan higher Education Investment Co., Ltd., with a total consideration of 26.01 million yuan, of which 13.005 million yuan will be issued through the company at an issue price of HK $0.85 per share to Sichuan Zhengzhuo (or its nominee) to issue 18.6858 million consideration shares.

Sichuan Zhengzhuo Education Investment Co., Ltd. and Sichuan higher Education Investment Co., Ltd. mainly provide private vocational education services in Sichuan Province, the notice said.