Luxin Venture Capital's Unit to Offload Tianyi Chemical to Yaxing Chemical

MT Newswires Live

11/18

Luxin Venture Capital Group's (SHA:600783) unit, Shandong High-tech Venture Investment, plans to offload Shandong Tianyi Chemical to Weifang Yaxing Chemical (SHA:600319), according to a Shanghai bourse filing on Tuesday.

Yaxing Chemical will acquire 12,940,574 shares in Tianyi Chemical through share issuance and cash payment, with the price to be determined through negotiation.

The Chinese abrasive products manufacturer's shares fell over 2%, while Yaxing's shares jumped 10% at the close.

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