Zangge Mining control transfer sees Zijin take majority stake

Zangge Mining (SZSE:000408) will undergo a control transfer, with Zijin International Holding set to become the major shareholder. Zijin will acquire a total of 392,249,869 shares of Zangge from multiple entities, including Zangge Chuangtou, Yonghong Industrial, Lin Jifang, Xiao Yongming, and Xinsha Hongyun Investment. This acquisition comes as part of a strategic move to boost resource allocation efficiency, with Zijin, a leader in the mining sector, bringing its expertise to Zangge. The transaction, valued at CNY 13,728,745,415, will result in Zijin directly holding 25.99% of Zangge Mining's shares, positioning it as the largest shareholder.