May 8, 2017 / 12:37 PM / 3 months ago

BRIEF-Nanfang Black Sesame to acquire e-commerce firm, boost capital of two units

1 Min Read

May 8 (Reuters) - Nanfang Black Sesame Group CO Ltd

* Says it plans to buy Shanghai-based e-commerce firm LDD for 700 million yuan ($101.41 million) via cash, share issue

* Says it aims to raise up to 175 million yuan via share private placement to fund the acquisition

* Says it plans to boost capital of two units by a combined 240 million yuan

Source text in Chinese: bit.ly/2pVWF9O; bit.ly/2qS9UFY

Further company coverage: ($1 = 6.9030 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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