Shenghe Resources Holding Co. (600392.SH) will acquire three companies for 3.039 billion yuan, the company said on late Monday.
For the acquisition, Shenghe Resources will make a private placement of 330 million shares at 8.5349 yuan per share, and pay 222 million yuan in cash. After the acquisition, Shenghe Resources will own 100 percent stake in the three firms, one of which is a rare earth company and the other two are new material firms.
Also, Shenghe Resources will raise no more than 1.536 billion yuan from nine investors via the private placement to upgrade certain projects of the three firms.
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