Jiangxi Guotai Group (SHA:603977) fully acquired Kuangye Bao Mao via a public listing on the Beijing Equity Exchange for 110.1 million yuan.
Kuangye Bao Mao provides blasting services to Jiangxi Copper (SHA:600362, HKG:0358) mines, according to a Friday filing with the Shanghai bourse.
Shares of the explosives manufacturer closed 4% lower Friday.
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