Asia
Xiangyang Changyuandonggu to Raise 5 Billion Yuan for Kanghao Acquisition; Shares Down 4%
Xiangyang Changyuandonggu Industry (SHA:603950) plans to raise 5.01 billion yuan through share placement to fully acquire Xiangyang Kanghao Electromechanical Engineering, according to a Shanghai bourse filing on Tuesday.The stake will be bought from five investors.The Chinese manufacturer of core diesel and gasoline engine components will place 168.4 million shares, representing 34.19% of the company's total shares, for 29.75 yuan per share.The company's shares dropped 4% during the afternoon trade.
SHA:603950
