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Chinese Universe Publishing And Media to issue shares for stake acquisition and fund raising


Monday, 23 Jun 2014 08:00pm EDT 

Chinese Universe Publishing And Media Co Ltd:To issue 129,552,200 shares at 12.73 yuan per share and pay cash of 1,010,800,000 yuan, to 14 individuals and five companies in exchange for 100 pct stake in a Beijing-based technology company.Transaction price valued at 2,660 mln yuan.To issue no more than 77,370,600 shares at no less than 11.46 yuan per share to 10 related parties through private placement, to raise no more than 886,666,700 yuan.The proceeds will be used for the stake acquisition.Hubei-based investment company's stake in the company was increased to 5.1040 pct (67,129,038 shares) up from 0 pct, through private placement.