Zijin Mining's (HKG:2899, SHA:601899) signed a supplemental agreement to acquire a controlling stake in Zangge Mining (SHE:000408), according to a Hong Kong Stock Exchange filing on Monday.
The Chinese mining company will buy 392.2 million shares in Zangge Mining for 13.73 billion yuan.
The holdings of Zijin and its affiliates in Zangge will jump to 26.2% from 1.2% after the transaction.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.