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SDIC Xinji Energy Co Ltd Announces Acquisition of SDIC Coal Co., Ltd. and Fund Raising


Thursday, 22 Aug 2013 08:00pm EDT 

SDIC Xinji Energy Co Ltd announced that it has decided to issue new shares at the price of RMB 7.94 per share to State Development & Investment Corporation to acquire a 100% stake in SDIC Coal Co., Ltd. The discrete value of the target company is RMB 2.836 billion. After the fiscal year 2012 dividend payment on August 21, 2013, the new shares will be issued at the price of RMB 5.6 per share. The Company is expecting to issue approximately 5,060,000,000 new shares to acquire the target company. The Company will also issue new shares through private placement to up to ten investors, at the price of RMB 5.6 per share, to raise up 25% of the total amount of the acquisition transaction. 

Company Quote

4.06
0.04 +1.00%
31 Jul 2014