It is reported that Science City Development Public plans to establish a mining investment and development joint venture with Hainan Xinde Taisheng Investment Management and Shouyi Venture Capital.
The joint venture, Yintai Shengda Mining Investment Development, will have a registered capital of CNY 100 million of which CNY 51 million will be borne by Science City in return for a 51% stake.
Science City released its assets restructuring plan in July. It had planned to swap out its hotel assets for lead-zinc mining assets. The value of the target mining assets rose 14 fold in the past three years.
Shares of Science City had risen by their daily limits for two straight trading sessions from July 21. However, the stock then dropped continuously to CNY 7.5 at present.
(Sourced from Shanghai Securities News)
1 comments:
Nice post....
Mining Investment
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