Zangge Mining to Invest Additional 659 Million Yuan in Equity Fund; Shares Down 3%

MT Newswires Live10-17

Zangge Mining (SHE:000408), through unit Zangge Mining Investment (Chengdu), plans to subscribe for additional units in a private equity investment fund for 659.1 million yuan, according to a Friday disclosure on the Shenzhen bourse.

The fund, Jiangsu Cangqing New Energy Industry Development Fund Partnership (Limited Partnership), plans to expand its total scale by 1.40 billion yuan, with other investors also raising their subscriptions in the fund.

The value of the Chinese mining company's subscription in the fund will increase to 3.16 billion yuan from 2.50 billion yuan, but its shareholding will remain at 47.08%.

The company's shares dropped by over 3% during morning trading.

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