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Yunnan Green-Land Biological Technology Co Ltd to Issue New Shares for Equity Share Acquisition and Fund Raising

Thursday, 14 Nov 2013 07:00pm EST 

Yunnan Green-Land Biological Technology Co Ltd announced that it will issue up to 12,342,402 shares to Xu Hongyao to acquire his 31% stake in a Yunnan-based landscape construction company (target company), as well as issue up to 11,944,260 shares and pay cash of RMB 30 million to Zhang Guoying, to acquire her 35% stake in the target company. The Company will also issue up to 8,759,200 shares to Yunnan Investment Group, to raise RMB 132 million. The share issuance price of RMB 15.07 per share. The 66% stake in the target company is priced at RMB 396 million. After the transaction, Xu and Zhang will jointly hold 24,286,700 shares (13.19% stake) of the Company, up from 0 share (0% stake). 

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