The Great Wall Capital Management Co., Ltd. and Weifang Taida Urban and Rural Construction Investment Co., Ltd. cancelled the acquisition of 10% stake in Tibet Huayu Mining Co., Ltd. from Tibet Daoheng Investment Co., Ltd.
August 06, 2021
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The Great Wall Capital Management Co., Ltd. and Weifang Taida Urban and Rural Construction Investment Co., Ltd. signed a share transfer agreement to acquire 10% stake in Tibet Huayu Mining Co., Ltd. (SHSE:601020) from Tibet Daoheng Investment Co., Ltd. for approximately CNY 500 million on March 1, 2021. As per terms, Tibet Daoheng will transfer 55.5 million shares of Tibet Huayu Mining Co., Ltd. at CNY 8.96 per share to Great Wall Weifang Fund to be established by Great Wall Capital and Weifang Investment. Post completion, Great Wall Weifang Fund will own 55.5 million shares equivalent to 9.99% stake.
The Great Wall Capital Management Co., Ltd. and Weifang Taida Urban and Rural Construction Investment Co., Ltd. cancelled the acquisition of 10% stake in Tibet Huayu Mining Co., Ltd. (SHSE:601020) from Tibet Daoheng Investment Co., Ltd. on August 7, 2021.
Tibet Huayu Mining Co., Ltd. is principally engaged in mining, ore dressing, geological survey and trading businesses of nonferrous metal. The Company's major products include zinc concentrate, lead antimony concentrate (silver-bearing) and copper concentrate, among others. In addition to the core business of mining production, the Company operates non-ferrous metals trading business.
The Great Wall Capital Management Co., Ltd. and Weifang Taida Urban and Rural Construction Investment Co., Ltd. cancelled the acquisition of 10% stake in Tibet Huayu Mining Co., Ltd. from Tibet Daoheng Investment Co., Ltd.
TIBET HUAYU MINING CO., LTD. 
