Tianshan Wool Buys Into Mining Company - ResearchInChina

Date:2011-08-08     Source:liaoyanliuhongli  Text Size:

June 7 – Tianshan Wool Tex Stock (000813) plans to privately issue 111 million shares at 5.66 yuan each, raising capital to obtain a 75-percent stake in a Xinjiang-based mining firm for an estimated 628 million yuan, reports stcn.com, citing a company filing.

The private issuance is part of Tianshan Wool’s effort to switch its main revenue source to mining.

In March 30, one of the Urumqi-based firm’s large asset restructuring plans was rejected by the China Securities Regulatory Commission.

 

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