News Column

Jianxin Mining Plans to Finance CNY1.2bn

July 30, 2014

SHANGHAI, July 30, SinoCast -- Jianxin Mining releases a plan that it would issue 239.52 million shares to Gansu Jianxin Investment and Beijing Saide Wanfang Investment and finance not more than CNY 1.2 billion.

Net financing, with issuance expenses deducted, will be used to replenish working capital.

The non-public offering will cement business expansion capacity and development potential, which provide adequate capital support for follow-up assets injection, R&D and production line upgrade.

Jianxin Mining also announces that it plans to take over 70% equities shareholders of Longbahe Copper Mine Company hold in Longbahe copper mine in Mengla county, Yunnan with own capital. Takeover capital and debts the company will take on after the acquisition will be not more than CNY 200 million.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Metals, Mining & Chemicals Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters