Stock Track | Yankuang Energy Soars on Potash Acquisition Deal

Stock Track09-24

Shares of Yankuang Energy Group Co. Ltd. surged over 5% on Monday after the Chinese coal mining company announced plans to acquire a majority stake in Australian potash miner Highfield Resources Ltd.

Under the proposed deal, Yankuang will transfer 100% shares of its subsidiary Yancoal Canada Resources to Highfield in exchange for newly issued Highfield shares at AU$0.50 apiece. This will make Yankuang the largest shareholder in Highfield and give it control over the Australian company's board.

Additionally, Highfield plans to raise AU$220 million through a share issuance, with Yankuang investing up to AU$90 million. The proceeds will be used to fund the construction of Highfield's Muga potash mine project in Spain and bolster Yankuang's liquidity position.

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Ltd. surged over 5% on Monday after the Chinese coal mining company announced plans to acquire a majority stake in Australian potash miner Highfield Resources Ltd.\n...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01171","symbol_name":"兖矿能源","start_time":0,"source_url":"","article_id":"1154686060","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154686060","pubTimestamp":1727151401,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Yankuang Energy Group Co. 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