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Chongqing Dima Industry Co Ltd to Acquire China-based Companies and to Faise Fund

Tuesday, 27 Aug 2013 12:00pm EDT 

Chongqing Dima Industry Co Ltd announced that it has decided to issue approximately 1.179 billion new shares at the price of RMB 3.52 per share, to acquire a 100% stake in two Chongqing-based real estate companies (target A and B) and a Shenzhen-based investment company (target C), a 49% stake in a Chongqing-based real estate company (target D). As details, the Company will be acquire a 75% stake in target A, a 100% stake in target B, a 51% stake in target C and a 49% stake in target D from DOYEN HOLDINGS LIMITED. The Company will also acquire a 25% stake in target A from a Jiangxi-based group company and a 49% stake in target C from a Jiangxi-based investment holding group company. The Company will issue approximately 869 million new shares to DOYEN HOLDINGS LIMITED, approximately 222 million new shares to the Jiangxi-based group company, and 88 million shares to the investment holding group company. After this, the Company will hold a 100% stake in the four target companies. The Company will also issue up to 436 million new shares for up to 25% of the total amount of the acquisition (RMB 1.383 billion), at the price of RMB 3.17 per share, through private placement.