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Anhui Shanying Paper Industry Co Ltd to Issue A Shares for Equity Acquisition and Fund Raising

Monday, 22 Jul 2013 08:00pm EDT 

Anhui Shanying Paper Industry Co Ltd announced that it will issue 1,590,716,423 A shares of common stock with par value of RMB 1 per share at RMB 1.68 per share, to 25 companies and individuals to acquire a combined 99.85363% stake in Jian Group, which is engaged in the paper and packaging logistics business. The Company will also issue up to 590,206,291 A shares at RMB 1.68 per share to up to 10 investors, to raise up to RMB 991,546,570.51. After the transaction, a Fuzhou-based business company, which is the parent company of Jian Group, will hold a 48.31% stake in the Company (1,534,702,793 shares), up from 0%. 

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