Inner Mongolia Xingye Silver & Tin Mining Subsidiary Launches Partial Tender Offer for Acquisition of Willing New Energy

MT Newswires Live08-19 14:17

Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) subsidiary Tibet Shannan Antimony Gold Resources will launch a partial tender offer to acquire up to 30% of Willing New Energy (SHE:002667) at 18 yuan apiece, according to a Wednesday filing with the Shenzhen bourse.

The tender offer of up to 78.2 million shares will facilitate the acquisition of Weiling, a struggling mining company that has recorded losses over the past three years, the filing said.

The offer for up to 1.8 billion yuan will help Weiling improve its operations, the filing said.

Shares in Xingye slid 7%, while Willing jumped 10% during afternoon trading on Wednesday.

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