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BBMG Corp Proposes Issue And Placing Of Shares


Thursday, 5 Sep 2013 09:50am EDT 

BBMG Corp announced that on 5 September 2013, the Board has approved the Proposed Placing, pursuant to which the Company will issue a maximum of 500,903,224 A Shares to two target subscribers including the Parent and the Fund at the Subscription Price of RMB5.58 per A Share, subject to the Price Adjustment. Each of the Parent and the Fund has conditionally agreed to subscribe for 448,028,673 A Shares and 52,874,551 A Shares to be issued by the Company at a total consideration of approximately RMB2,500 million and RMB295 million respectively. The Subscription Price of RMB5.58 per A Share is not lower than (i) RMB4.59 per A Share, being 90% of the average trading price of A Shares of the Company during the 20 trading days immediately preceding the Price Determination Date; and (ii) the unaudited net asset value of approximately RMB5.574 per Share as at 30 June 2013. The A Shares to be issued under the Proposed Placing represents (i) approximately 16.08% of the existing issued A Shares and approximately 11.69% of the existing total issued share capital of the Company as at the date of this announcement; and (ii) approximately 13.86% of the enlarged issued A Shares and approximately 10.47% of the enlarged total issued share capital of the Company upon completion of the Proposed Placing. 

Company Quote

5.28
0.03 +0.57%
10:11pm EDT