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Wolong Electric Group Co Ltd to Issue A Shares for Equity Acquisition

Friday, 29 Mar 2013 08:00pm EDT 

Wolong Electric Group Co Ltd announced that it will issue 417,824,380 A shares of common stock with par value of RMB 1 per share at RMB 4.25 per share, to a Zhejiang-based investment company (Company A), so as to acquire an 85% stake in Hong Kong Wolong Holding Group Co., Limited. The Company will also purchase the remaining 15% stake in the target company from Company for RMB 313,368,285. 

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