Dalian Jinniu to purchase property assets
Published: 24 May 2009 17:29:41 PSTMay. 25, 2009 (China Knowledge) - Dalian Jinniu Co Ltd<000961> has announced that it obtained approval on May 21 from the China Securities Regulatory Commission (CSRC) to purchase assets from Zhongnan Real Estate, a famous property developer in Jiangsu Province, through bond issuance, sources reported. The approval will expire in 12 months and the average price for the bond issuance will be RMB 7.82 per share. Dalian Jinniu, principally engaged in the smelting of special steels, as well as the rolling and processing of special steel products, will issue 474.5 million shares to Zhongnan Real Estate to acquire a 100% stake in each of eight property firms, an 80% stake in a property management firm and a 97.36% stake in a construction firm. Dalian Jinniu will also issue 3.35 million shares to Chen Lin, the daughter of board chairman of Zhongnan Real Estate, to acquire a 2.64% stake in the firm. Copyright © 2009 www.chinaknowledge.com |
Go to Page
Page 1 of 1
1
Source:
China Knowledge
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2Entrepreneurblues
- 3ANALYSIS-CFTC cautious on position limits, set
- 4AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 5Beware of phishing scams if you are using
- 6Beyond The Anti-Virus Arms Race
- 7Help protect yourself from phishing scams and
- 8China Longyuan Power plans HK$17.5-bln HK IPO
- 9Acer's Mobile Gamble
- 10Foreign e-commerce market expands for DIY
