United States

Butone Information Corp Xian to issue shares for stake acquisition and fund raising

Monday, 28 Mar 2016 08:00pm EDT 

Butone Information Corp Xian:Says to issue 7,092,198 shares at 40.89 yuan per share and pay cash of 60 million yuan, to four individuals in exchange for 100 pct stake in a Nanjing-based electronic company.Says the transaction price is 350 million yuan.Says to issue 7,801,418 shares at 42.30 yuan per share through private placement, to raise up to 330 million yuan.Says proceeds will be used for the stake acquisition and business integration.Zhao Guoan's stake in the company will be increased to 8.60 pct.Xian-based asset management company's stake in the company will be increased to 10.09 pct. 

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