Xiamen Tungsten's Subsidiary Jinlong Rare Earth Plans Private Placement of Up to 26.68 Million Shares

Stock News11-18

Xiamen Tungsten Co.,Ltd. (600549.SH) announced that its subsidiary Jinlong Rare Earth, listed on the National Equities Exchange and Quotations (NEEQ), plans to conduct a private placement. The company intends to issue up to 26.68 million ordinary shares to existing shareholders at a price of 1.50 yuan per share, based on Jinlong Rare Earth's audited net asset value per share for 2024. The offering is expected to raise no more than 40.02 million yuan to supplement working capital.

All shareholders will subscribe to the shares proportionally to their current holdings. Xiamen Tungsten, its affiliates Yekong Fund, Chuanghe Xincai, and Jiatai Lvneng plan to subscribe for 26.093 million yuan, 2.2011 million yuan, 800,400 yuan, and 800,400 yuan, respectively.

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