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Shanghai Dingli Technology Development (Group) Co Ltd to issue shares to acquire company and raise fund

Monday, 12 May 2014 08:00pm EDT 

Shanghai Dingli Technology Development (Group) Co Ltd:To issue 150,887,573 shares at price of 10.14 yuan per share and pay cash consideration of 270,000,000 yuan to acquire 100 pct stake in Chenzhou Fengyue Science and Technology Co., Ltd.The company will acquire the target company from five individuals and ten investment companies.Acquisition price is 1.8 bln yuan in total.To issue up 65,710,000 shares at price of 9.13 yuan per share through private placement, to raise up 600 mln yuan.Proceeds raised will be used to pay cash consideration of acquisition and increase capital in target company.