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BRIEF-CEC CoreCast to sell stake and issue new shares to acquire stake in companies
April 19, 2017 / 4:15 AM / 8 months ago

BRIEF-CEC CoreCast to sell stake and issue new shares to acquire stake in companies

April 19 (Reuters) - CEC CoreCast Corp Ltd :

* Says it plans to sell its entire 58.1 percent stake in China Electronics Smart Card and 13.7 percent stake in China Electronics Financial Co Ltd for 729.3 million yuan

* Says it will issue 72.6 million shares at 16.12 yuan per share in exchange for 100 pct stake in a Beijing-based electronic company and 29.9 percent stake in an engineering firm, transaction price valued 1.17 billion yuan

* China Shipbuilding Industry’s stake in the company will be increased to 60.2 percent from 53.5 percent

Source text in Chinese: goo.gl/DfPhCI

Further company coverage: (Beijing Headline News)

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