China Business News: Chongqing Department Store to buy RMB 3.95-bln asset

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Chongqing Department Store to buy RMB 3.95-bln asset

Oct. 12, 2009 (China Knowledge) - Chongqing Department Store Co Ltd<600729> yesterday announced that it plans to acquire Hangzhou New Century Information Technology Co<002280>, which is valued at RMB 3.95 billion, by issuing 179.3 million shares at an average price of RMB 22.03 apiece, sources reported. The Shanghai-listed enterprise intends to issue 109.37 million shares to Chongqin

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