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CSRC nods CITIC Heavy Industries' purchase of 80pct stake in Kaicheng

BEIJING
2015-11-23 21:29

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CITIC Heavy Industries Co, Ltd (601608.SH) announced on Monday that the China Securities Regulatory Commission (CSRC) has approved its plan to acquire an 80 percent stake in Kaicheng Group for 848 million yuan.

CITIC Heavy Industries plans to issue shares to owners of Kaicheng Group to cover part of the expense. The rest will be paid in cash.

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