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Shanxi Meijin Energy Co Ltd to Issue A Shares for Equity Acquisition and Fund Raising

Sunday, 17 Mar 2013 08:00pm EDT 

Shanxi Meijin Energy Co Ltd announced that it will issue 840 million A shares of common stock with par value of RMB 1 per share at 9.34 per share to the Company's controlling shareholder, a Shanxi-based energy group (Group A), so as to acquire a 76.96% stake in a Shanxi-based coal company and a 100% stake in another Shanxi-based coal company. The Company will also acquire a 100% stake in a Shanxi-based coking company, a Tianjin-based international trading company and a Dalian-based company in cash. In addition, the Company also issue 300 million A shares at not less than RMB 8.41 per share to up to 10 investors, to raise up to RMB 2.523 billion in private placement. After the share issuance, Group A's holdings in the Company will increase from 29.73% to not less than 68.89%. 

Company Quote

-0.4 -4.81%
30 Jan 2015