Newsletter summary
The capital of Zhaojin is 0 per share.Drscratch.58 Australian dollars made a conditional offer to acquire shares in the target company, a 36% premium to the closing price of the target company, with a total consideration of about HK $3.126 billion. At the end of the offer period, Zhaojin Capital had 90.72% of the voting rights of the target company.
Text of news flash
[Zhaojin Capital submitted a conditional offer statement with a 36% premium on the shares of the target company] mining giant Zhaojin Mining (01818) announced on October 30, 2023 that its indirect wholly-owned subsidiary, Zhaojin Capital, had submitted a statement to the offeror. plans to make a conditional offer to acquire all shares not currently held by the target company. According to the offeror's statement, the offer price is A $0.58 per share, a 36 per cent premium to the target company's final closing price of A $0.425 on the Australian Stock Exchange. The total cost of the proposed acquisition is up to about A $629 million, or about HK $3.126 billion. This move reflectsDrscratchZhaojin Mining is determined to further consolidate its control of the target company and expand its mining territory. The offer period ended at 07:00 EDT on May 14, 2024. By the end of the offer, Zhaojin Capital's voting rights in the target company had reached 90.72%, which means that the target company will officially become a subsidiary of Zhaojin Mining.