Leimingkehua purchases coal mines at RMB23 billion
2017-11-29 17:12:56 [Print]
On the evening of November 27th, Leimingkehua announced that the company has purchased 99.95% of stakes in Huainan Mining and meanwhile its fully-owned subsidiary Xibuminbao purchased the left 0.05% of stakes in Huinan Mining by cash.
Leimingkehua intends to issue 1.742 billion of shares at the price of RMB11.38 per share to purchase 97.49% stakes from 15 legal persons of Huainan Mining, Cinda Asset Management, Anhui Wenergy, Baosteel Resources, Guoyuan Equity Investment, etc. and 3 natural persons with the left stakes purchased by cash of about RMB510 million.
In addition, the company will collect capitals of no more than RMB700 million to 10 specific investors by way of private placement, mainly used for cash payment in this transaction.
It is reported that the Huainan Mining is the most comprehensive and most capable coking production enterprise in East China. After the completion of this transaction, Leimingkehua will be transformed into a listed company with major business in fields of blasting and coal.
According to the announcement, as of the end of Q3, Huainan Mining has owned 17 pairs of production mines with annual capacity of 35.75 million tons; 5 steam coal preparation plants with annual washing capacity of 12.1 million tons; coking coal preparation plants with annual washing capacity of 29 million tons.
Leimingkehua intends to issue 1.742 billion of shares at the price of RMB11.38 per share to purchase 97.49% stakes from 15 legal persons of Huainan Mining, Cinda Asset Management, Anhui Wenergy, Baosteel Resources, Guoyuan Equity Investment, etc. and 3 natural persons with the left stakes purchased by cash of about RMB510 million.
In addition, the company will collect capitals of no more than RMB700 million to 10 specific investors by way of private placement, mainly used for cash payment in this transaction.
It is reported that the Huainan Mining is the most comprehensive and most capable coking production enterprise in East China. After the completion of this transaction, Leimingkehua will be transformed into a listed company with major business in fields of blasting and coal.
According to the announcement, as of the end of Q3, Huainan Mining has owned 17 pairs of production mines with annual capacity of 35.75 million tons; 5 steam coal preparation plants with annual washing capacity of 12.1 million tons; coking coal preparation plants with annual washing capacity of 29 million tons.
