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5 months ago
BRIEF-Shanghai Belling to fully buy smart metering chip firm for 590 mln yuan
March 17, 2017 / 11:00 AM / 5 months ago

BRIEF-Shanghai Belling to fully buy smart metering chip firm for 590 mln yuan

March 17(Reuters) - Shanghai Belling Corp Ltd :

* Says it will issue 25.8 million shares at the price of 13.74 yuan/share and pay cash of 354 million yuan in exchange for 100 percent stake in a smart metering chip company

* Transaction price is 590 million yuan in total

* Says it will issue new shares to raise up to 245 million yuan in private placement of shares to fund acquisition and pay agency fees

Source text in Chinese: goo.gl/JaKpsq

Further company coverage: (Beijing Headline News)

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