Asia
Xinjiang Baodi Mining Purchases 66% Stake in Iron Mine Owner
Xinjiang Baodi Mining (SHA:601121) bid to purchase a 66% stake in Xinjiang Kaihong Investment from Shougang Yili Iron & Steel for 1.25 billion yuan, according to a Wednesday filing with the Shanghai bourse.The transaction was made through a public listing on the Beijing Equity Exchange, with the stake subject to a judicial freeze prior to the purchase.Kaihong Investment will then become a subsidiary of the mining company.Kaihong subsidiary owns the mining and deep exploration rights for an iron mine in Hejing County in the Xinjiang Uygur Autonomous Region, China.
SHA:601121
