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ZIJIN MINING Announces Acquisition of Controlling Power in CHIFENG GOLD through Acquisition of A Shrs & Subscription of New H Shrs, Involving ~RMB18.3B
Recommend 5 Positive 14 Negative 8 |
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CHIFENG GOLD (06693.HK) announced that its largest single shareholder, Li Jinyang, transferred on March 22, 2026, around 242 million A-shares (about 12.73% of the issued share capital) to ZIJIN MINING (02899.HK)'s wholly-owned subsidiary, Zijin Gold, for a total consideration of RMB10.006 billion. In addition, CHIFENG GOLD will place around 311 million new H-shares to Zijin Gold at a subscription price of HKD30.19 per share, a discount of about 28.3% compared to last Wednesday (18th). The net proceeds are estimated to be around HKD9.292 billion. Upon completion of the transaction, Li will divest all his holdings, and Zijin Group will hold around 242 million A-shares and 330 million H-shares, totaling about 25.85% of the enlarged issued share capital, making it the largest single shareholder. According to Zijin, the total consideration for the above transactions is around RMB18.258 billion. AAStocks Financial News |
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