Yitai Coal's tender offer for ST Xinchao achieves success

Inner Mongolia Yitai Coal Co., Ltd. (SSE: 900948) announced that its tender offer for Shandong Xinchao Energy Co., Ltd. (ST Xinchao) has reached the required threshold for effectiveness. The offer, priced at CNY 3.40 per share, aimed to acquire up to 3,468,252,870 shares of ST Xinchao, representing 51.00% of its total share capital. The condition for the offer's success was a minimum of 1,904,138,831 shares (28.00% of ST Xinchao's total shares) being tendered by the expiry date. As of the last trading day of the offer period, May 22, 2025, a total of 3,407,350,144 shares (50.10% of ST Xinchao's total shares), held by 20,168 shareholders, had been tendered. With the target met, the tender offer has now achieved its conditions for effectiveness.