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Inner Mongolia Xingye Mining Co Ltd to Issue New Shares through Private Placement; Announces Changes in Shareholding Structure

Wednesday, 12 Jun 2013 08:00pm EDT 

Inner Mongolia Xingye Mining Co Ltd announced that it has decided to issue 104,384,132 A shares of its common stock, with par value of RMB 1.00 per share, at the price of RMB 9.58 per share, to an Inner Mongolia-based group (20,876,826 shares) and a Gansu-based mining industry group (83,507,306 shares), through private placement. The Company will raise RMB 1 billion from this private placement. The Company will use the proceeds as working capital. After the share issuance, the Gansu-based mining industry group will hold a 15.40% stake in the Company. The Inner Mongolia-based group will hold a 30.51% stake in the Company, down from 33.02%. 

Company Quote

-0.45 -3.11%
27 Mar 2015