Article: GANSU YASHENG TO BUY AGRI ASSETS


AsiaInfo Services
03-12-2009
Gansu Yasheng to Buy Agri Assets

LANZHOU, Mar 12, 2009 (SinoCast Daily Business Beat via COMTEX) -- Gansu Yasheng Industrial (Group) Co., Ltd. (SHSE: 600108) will buy ten plots and agriculture-related assets in seven farms from its actual controller Gansu Nongken Group via a private placement.

The Shanghai-listed company plans to issue about 295.8 million A-shares at CNY 3.91 apiece to its actual controller. And the raised capital will pay for the target assets, evaluated at about CNY 1.16 billion.

After the placement, Gansu Nongken will own 17.03% of the enlarged stock capital of Gansu Yasheng, engaged in such businesses as modern agriculture, fine chemicals, ...

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