China Hanking's Subsidiary to Increase Shareholding in Cygnet Gold

MT Newswires Live10-28

China Hanking's (HKG:3788) subsidiary Hanking Australia agreed to acquire 96,900,100 shares of Cygnet Gold from 11 of the target company's shareholders for AU$19.4 million, or at AU$0.2 per share, a Sunday Hong Kong bourse filing said.

The shares represent 36.64% of the issued shares of Cygnet Gold, increasing the shareholding of Hanking Australia, through its subsidiary Watkins Gold, in Cygnet Gold to 93.37% from 56.72%.

The group will use its internal resources for the acquisition.

The mineral resources explorer, miner, and seller's shares were up over 6% on Monday's close.

Price (HKD): $0.88, Change: $+0.050, Percent Change: +6.02%

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