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Shanghai Chenghai Enterprise Development Co Ltd to Issue New Shares and Acquire Stake in Shanghai-based Company


Monday, 6 May 2013 08:00pm EDT 

Shanghai Chenghai Enterprise Development Co Ltd announced that it will issue approximately 217,358,399 new shares at RMB 8.12 per share to Mr. Yan Jinggang and 76 other individuals as well as eight institutions, in exchange for a 92.99% stake in a Shanghai-based company engaged in the development, production and sale of precast concrete piles. The Company will also issue new shares to up to 10 investors at the price of no less than RMB 7.31 per share, for capital injection in the Shanghai-based company and business operation. 

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