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East Steel Tower to acquire Huiyuanda for RMB4 bln

BEIJING
2015-12-17 10:34

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Qingdao East Steel Tower Stock Co. Ltd (002545.SZ) announced on late Wednesday that the company plans to spend 4 billion yuan acquiring Sichuan Huiyuanda Potassium Fertilizer Co. Ltd.

Huiyuanda's main assets include a potassium mine in Laos, which covers an area of 140.96 square km and has 216.4178 million tonnes of KCI reserves. East Steel Tower will issue 453 million shares at 7.68 yuan/share to owners of Sichuan Huiyuanda and pay 518 million yuan in cash.

In addition, East Steel Tower will raise a maximum of 900 million yuan via private placement at 7.68 yuan/share.

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