Энэ 7 хоногт
Kiu Hung Energy to buy HKUSD1.4-bln coal asset in Mongolia
Mar. 18, 2010 (China Knowledge) - Kiu Hung Energy Holdings Ltd0381, which was formerly known as Kiu Hung International Holdings Ltd,
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Mar. 18, 2010 (China Knowledge) - Kiu Hung Energy Holdings Ltd<0381>, which was formerly known as Kiu Hung International Holdings Ltd, has announced that it intends to acquire a 19.99% stake in First Dean Holding, a coal firm based in Mongolia, for HKUSD1.4 billion.
The Hong Kong-listed firm will pay HKUSD3.58 million in cash and will pay HKUSD209.2 million by issuing 523 million new shares at a price of HKUSD0.4 apiece, a price 33.3% more than its closing price of HKUSD0.3 before shares were suspended from trading. The new shares will account for 10% of the enlarged capital.
The purchaser will pay the remaining HKUSD1.22 billion by issuing two batches of convertible bonds.
Reportedly, Kiu Hung Energy Holdings has appointed Zhang Qifeng as the CFO. Lin Jisheng has resigned from his post as board secretary but will remain the executive director.
