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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