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Yunnan Yuntianhua Co Ltd to Divest Holdings in Companies; to Retire Shares

Wednesday, 25 Sep 2013 08:00pm EDT 

Yunnan Yuntianhua Co Ltd announced that it has decided to sell a 92.8048% stake in Chongqing Polycomp International Corp, a 57.50% stake in Chongqing Tenways Material Corporation and a 61.67% stake in a Zhuhai-based compound material company, to the controlling shareholder of the Company, Yuntianhua Group, in exchange for the Company's A shares held by Yuntianhua Group, worth RMB 4,761,746,500. The Company will receive 539,590,362 shares of its A shares of common stock, from Yuntianhua Group, worth RMB 8.55 per share. After the transaction, the Company will retire the 539,590,362 shares received from Yuntianhua Group. 

Company Quote

-0.05 -0.63%
1 Aug 2014