Lomon Billions completes buyback of subsidiary Yunnan Guotai shares
Lomon Billions Group (SZSE:002601) announced it has completed the repurchase of equity in its subsidiary, Yunnan Guotai Metal Co., from 19 strategic investors. The move, initially approved in 2023, aims to optimize corporate governance and boost business development at Yunnan Guotai. The total repurchase price was 2.597 billion yuan, comprising 2.272 billion yuan for the shares and 325 million yuan for capital usage fees. Following the transaction, Lomon Billions' stake in Yunnan Guotai, held directly and through its subsidiary Lufeng Titanium, increases from 50.9960% to 83.3238%. Yunnan Guotai remains a subsidiary of Lomon Billions, with no change to the consolidated financial statements. The company will now proceed with relevant business registration changes.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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