BTG Hotel (Group) Co. (600258.SH) announced on Monday that it planned to purchase 100 percent stakes in Home Inns & Hotels Management Inc. (HMIN.NASDAQ) for 11.05 billion yuan.
In the meantime, BTG Hotel is scheduled to raise no more than 3.874 billion yuan of counterpart funds via private placement.
As the Shanghai Stock Exchange (SSE) will review the proposal, its stock trading will continue to be suspended.
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