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BRIEF-Chongqing Zongshen Power Machinery unit to issue 4.3 mln shares to individual
December 7, 2017 / 9:06 AM / 12 days ago

BRIEF-Chongqing Zongshen Power Machinery unit to issue 4.3 mln shares to individual

Dec 7(Reuters) - Chongqing Zongshen Power Machinery Co Ltd

* Says co’s Chongqing-based machinery unit will issue 4.3 million shares to an individual, Xu Zhengming, at the price of 7.35 yuan per share

* Says Xu Zhengming will raise stake in the unit to 29.4 percent (15.3 million shares) from 23.1 percent (11 million shares) and become the unit’s top shareholder

* Says co’s stake in the unit will be diluted to 24.7 percent (12.9 million shares) from 26.9 percent (12.9 million shares)

Source text in Chinese: goo.gl/VFWzZJ

Further company coverage: (Beijing Headline News)

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