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Dashang Co Ltd to Issues Shares for Equity Acquisition and Fund Raising

Monday, 27 May 2013 08:00pm EDT 

Dashang Co Ltd announced that it will respectively issue A shares of common stock with par value of RMB 1 per share at RMB 37.00 per share, to Dashang Group and a Dalian-based investment management company, so as to acquire assets of retail business valued at RMB 2,224.03 million and RMB 2,660,63 million from the two companies. The assets include assets of five super market branches of Dashang Group, a 100% stake in four companies, a 10% stake in two other companies, a 3% in two companies, as well as a 50%, a 7.43% and a 4% stake in three other companies. The Company will also issue new shares to up to 10 investors in private placement, to raise up to RMB 1.2 billion. 

Company Quote

0.27 +0.87%
24 Oct 2014