FilingReader Intelligence

Shengda Resources updates on asset acquisition, fundraising plan

May 28, 2025 at 05:23 PM UTCBy FilingReader AI

Shengda Resources (SZSE:000603) announced an update on its plan to acquire the remaining 47% equity stake in Sichuan Honglin Mining Co., Ltd, a subsidiary where it already owns 53%. The acquisition will be executed via issuing shares to seven counterparties namely, Zhou Qinglong, Ma Ling, Chen Lin, Chen Wenlin, Guo Fu'an, Shu Guixian, and Yi Yihui. The company also plans to raise matching funds by issuing shares to no more than 35 specific investors. The deal does not constitute a related party transaction, a major asset restructuring, or a backdoor listing. The company has engaged intermediary agencies to conduct audits, evaluations, and due diligence. However, the details of the deal are still under discussion. Shengda Resources will reconvene a board meeting to review related matters at the appropriate time, using the day the board meeting's resolution is announced as the pricing benchmark for the issuance of shares. The transaction is subject to approval by the Shenzhen Stock Exchange and the China Securities Regulatory Commission (CSRC).

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:000603Shenzhen Stock Exchange

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