China's Hebei Jinniu Energy Resources to offer new shares

Published: 30 Mar 2009 00:10:49 PST

Mar. 30, 2009 (China Knowledge) - Hebei Jinniu Energy Resources Co Ltd<000937>, principally engaged in coal mining and processing, on Mar. 25 announced plans to issue 368 million shares to its three subsidiaries to acquire coal assets worth RMB 4.53 billion.

The planned issue price is RMB 12.28 per share. The Shenzhen-listed firm will offer 230 million shares, 93.55 million shares and 45.26 million shares to Jizhong Energy Fengfeng Group, its branch in Handan, and its branch in Zhangjiakou, respectively.

Last year, the energy enterprise recorded operating revenue of RMB 9.28 billion, a year-on-year jump of 75%. Net profits were RMB 1.96 billion, soaring 182.4% from a year earlier, sources reported.

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