Financial Markets
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks

Stocks / IPOs
 Search News  Or
Conch Cement buys 19.99% stake in Qingsong Building Materials

Jun. 25, 2012 (China Knowledge) - Anhui Conch Cement Co Ltd<600585><0914>, the biggest cement producer in Asia by output, announced yesterday that it has completed the acquisition of a 19.99% stake in Xinjiang Qingsong Building Materials and Chemicals (Group) Co Ltd<600425>.

The company said in a statement filed with the Shanghai Stock Exchange that it, together with an Anhui Province-based fully-owned subsidiary, bought 137.8 million shares of Qingsong Building Materials through a private placement.

Qingsong Building Materials earlier announced plans to issue up to 262 million shares at RMB 13.53 apiece through a private placement. Proceeds from the offering will be used to fund three cement projects.

Anhui Conch Cement said earlier this month that it expected its net profit for the first half of this year to fall at least 50% from RMB 5.99 billion in the same period of 2011.

Add this     
Copyright © "2015"

Send feedback or comments to:

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services


 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved