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Shanghai Haibo announces asset swap and private placement plan


Monday, 21 Jul 2014 08:00pm EDT 

Shanghai Haibo Co Ltd:To divest seven companies stake and liabilities and issue about 317,691,773 shares at no less than 8.96 yuan per share, in exchange for 72.5455 pct stake in NGS Real Estate (target company A), from Bright Food (Group) Co., Ltd.To issue 34,495,655 shares to target company's other shareholders, in exchange for rest of stake in the target company A.To issue 209,615,962 shares to Shanghai-based asset management company, in exchange for 25 pct stake in target company's subsidiary, a real estate company (target company B).Says 100 pct stake of target company A valued at 7,746,199,000 yuan.Says 25 pct stake of target company B valued at 79,917,700 yuan.The asset and appraisal value at 2,773,000,500 yuan.To hold 100 pct stake in the target company A, after the transaction.To hold 100 pct stake in the target company B directly and indirectly, after the transaction.To issue 323,259,672 shares at 8.07 yuan per share through private placement, to raise up to 2,608,705,558 yuan for proposed construction projects. 

Company Quote

8.69
-0.21 -2.36%
2:33am EDT