Zijin Mining Raises Stake in Zangge Mining to 25% in 13.7 Billion Yuan Deal; Zangge Mining Shares Jump 10%

MT Newswires Live

01/17

Zijin Mining Group (SHA:601899, HKG:2899) raised its stake in Zangge Mining (SHE:000408) to 25% from 0.18% to become the potash fertilizer producer's largest shareholder.

This was achieved via the purchase of 392,249,869 Zangge Mining shares at 35 yuan apiece by subsidiary Zijin International Holdings for a total of 13.73 billion yuan, according to a Friday filing with the Shanghai bourse.

Zangge Mining shares surged 10% in recent trade, while Zijin Mining's Hong Kong shares gained over 1%.

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