Tongguan Gold to Buy 60%-Stake-Holding Company of Supplier
MT Newswires Live2024-09-30
Tongguan Gold Group (HKG:0340) agreed to acquire 100% stake in Huasheng Construction Investment from Tongfei Investment for 30 million yuan, a Monday bourse filing said.
The consideration for the deal will be satisfied through the issue of convertible bonds on completion.
The bonds are convertible into 30 million shares at 1 yuan per share. The converted shares represent a little over 0.7% of the gold miner's issued share capital as of Monday.
Huasheng Construction Investment indirectly holds 60% equity interests in Xi'an Hongshang Mining Engineering, which is a supplier to Tongguan Gold Group.
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