Huaxi Nonferrous Metal's Controlling Shareholder to Remain Unchanged Following 13.1 Billion Yuan General Offer
MT Newswires Live
Sep 21
Guangxi Huaxi Nonferrous Metal's (SHA:600301) controlling shareholder, Guangxi Key Metals Group, will remain unchanged after the completion of a 13.1 billion yuan general offer, according to a series of Shanghai bourse filings over the weekend.
The Chinese mining company's shares jumped 10% at the close of Monday's trade.
China Minmetals made a general offer to acquire 51% of Guangxi Key Metals, proposing about 275.3 million shares of the company for 47.40 yuan per share.
Only the indirect controlling shareholders will change after the transaction. Guangxi Key Metals Group will be the new indirect controlling shareholder, and the local government of the Guangxi Zhuang Autonomous Region will become the actual controller.
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