Rising Nonferrous: Acquiring 10% shares of Qichang New Material at RMB1 coincident with policy environment
2017-12-21 16:03:52 [Print]
Recently, there was a report named Why Rising Nonferrous Can Acquire 3 Million Shares at RMB1, which doubted the event that Guangdong Rising Nonferrous Metal Import and Export, a wholly-owned subsidiary of Rising Nonferrous, acquired 10% shares of Ganzhou Qichang New Material at RMB1
. As for this, Rising Nonferrous explained that the two parties were not related parties and there was no other arrangement about the transaction; other rare earth groups had also acquired private rare earth companies without any costs before; this transaction was coincident with the current policy environment and the development trend of the industry . The former shareholder of Qichang New Material transferred 10% shares of the company at RMB1, which will stimulate the company to be stronger and better in the future.