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Chongqing Dima Industry Co Ltd to Issue New Shares of Equity Acquisition and Fund Raising


Tuesday, 17 Sep 2013 08:00pm EDT 

Chongqing Dima Industry Co Ltd announced that it has decided to issue approximately 1,179,698,690 new shares at the price of RMB 3.52 per share, to acquire a 100% stake in a Chongqing-based real estate development company, a 75% stake in another Chongqing-based real estate development company, a 51% stake in a Shenzhen-based investment company, a 49% stake in a Chongqing-based real estate company (target D). As details, the Company will 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 JIANGSU HUAXI GROUP CORPORATION and a 49% stake in target C from a Jiangsu-based investment holding group company. The Company will issue 868,695,439 new shares to DOYEN HOLDINGS LIMITED, 222,635,260 new shares to JIANGSU HUAXI GROUP CORPORATION, and 88,367,991 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 436,649,778 new shares for not less than RMB 3.17 per share through a private placement, to raise up to RMB 1,384,179,797.90 in total.