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China Coal Xinji Energy Names New Controlling Shareholder After Gratuitous Stake Transfer

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China Coal Xinji Energy (SHA:601918) named a new direct controlling shareholder after the gratuitous transfer of 31.9% of its total shares, according to a Shanghai bourse filing over the weekend.

China Coal Energy Group offloaded the stake, which represented 826,840,926 shares of the company, to China Coal (Anhui) Energy.

Anhui Coal became the coal producer's direct controlling shareholder, while China Coal Energy became its indirect controlling shareholder.

The coal producer's shares slipped 1% during the midday trade.

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