Hunan Zhuye Nonferrous Metals Co., Ltd. announced that it expects to receive CNY 2.381 billion in funding from Zhuzhou Smelter Group Co.,Ltd.
October 29, 2018
Share
Hunan Zhuye Nonferrous Metals Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 2,381,000,000 on October 30, 2018. The transaction will involve participation from returning investor Zhuzhou Smelter Group Co.,Ltd. (SHSE:600961) for CNY 1,884,960,000 to retain its 79.16% stake in the company and Hunan Xiangtou Jinye Private Equity Investment Fund Enterprise (Limited Partnership) for CNY 496,040,000 to retain its 20.84% stake in the company, after Hunan Xiangtou Holdings Group Co., Ltd. transfers its existing stake of 20.84%. The registered capital of the company will increase from CNY 19,000,000 to CNY 2,400,000,000. The transaction is subject to approval from the shareholders of the Zhuzhou Smelter Group Co.,Ltd. (SHSE:600961).
ZHUZHOU SMELTER GROUP CO., LTD. is a China-based company principally engaged in the manufacture and distribution of nonferrous metal products and chemical products. The Company's main products portfolio consists of zinc products, including zinc alloy ingots, zinc powders, zinc ingots, and others; lead products, including lead ingots and lead alloy ingots; precious metal products, including sponge palladium, sponge platinum, silver ingots, gold ingots, cobalt oxide and others, as well as sulfuric acid, mercurous chloride, crude copper, silver nitrate and others. In addition, the Company is also engaged in trading business. The Company conducts its businesses in domestic and overseas markets.