ST Xinchao: Yitai Coal's tender offer concludes successfully

Shandong Xinchao Energy Corporation (SSE:600777) announced the successful completion of Inner Mongolia Yitai Coal Co., Ltd.'s tender offer for the company's shares. The offer, which commenced on April 23, 2025, and concluded on May 22, 2025, resulted in Yitai Coal acquiring 3,407,350,144 shares, representing 50.10% of ST Xinchao's total share capital. The tender offer price was set at CNY 3.40 per share. While the number of shares tendered fell short of Yitai Coal's initial target, it met the minimum threshold for the offer to become effective. Post-acquisition, Yitai Coal now holds a controlling stake in ST Xinchao, but the company's listing status remains unaffected as equity distribution continues to meet listing requirements. Liquidation and transfer procedures are to be completed soon.