Tongling Nonferrous Metals to Add Stake in Subsidiary for 377 Million Yuan

MT Newswires Live

2024/09/09

Tongling Nonferrous Metals Group (SHE:000630) plans to add its holdings in subsidiary Tongling Nonferrous Metals Group Finance for 377.4 million yuan, according to a Sept. 6 disclosure on the Shenzhen Stock Exchange.

The Chinese copper miner and smelter will buy 21% of Tongling Nonferrous Metals Group Finance from controlling shareholder Tongling Nonferrous Metals Group Holding.

After the completion of the transaction, Tongling Nonferrous Metals' stake in Tongling Nonferrous Metals Group Finance will rise to 51%, the disclosure added.

Shares of the company rose more than 1% in recent trade.

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