China's Jien Nickel (600432.SH) announced on Wednesday that it will terminate the major asset restructuring plan as it involves an overseas acquisition and a large amount of money with complicated procedures.
The company said that the due diligence is expected to take a long time and it is hard for the listed company to finish relevant work within the prescribed time. At present, the company has suspended share trading for nearly three months due to the asset restructuring plan.
The target assets that the listed company plans to buy are the exploration, smelting and processing and other sections of the nonferrous metal mines. During its share suspension, the company signed a financial consultant agreement with the Argonaut Company and a confidentiality agreement with other counterparties, according to the company's filing to the stock exchange.
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