Nanjing Chemical Fibre to Buy Nanjing Gongyi Equipment Manufacturing

MT Newswires

Nanjing Chemical Fibre plans to acquire 100% of Nanjing Gongyi Equipment Manufacturing through a debt swap, share placement and cash.

The company will pay a consideration of 875.9 million yuan through share placement and cash, and 1.04 billion in convertible bonds.

The Chinese chemical manufacturer will issue shares to Nanjing Xingong Investment Group to acquire the 53% equity of the maker of rolling functional components, according to a Wednesday disclosure on the Shanghai bourse.

The company will also issue shares and pay cash to 13 parties to purchase a total of 47% of Nanjing Gongyi.

The company will issue 191,671,909 shares for 4.57 yuan each, accounting for 34.35% of its total share capital.

Nanjing Chemical Fibre's shares closed 1% higher.

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Greater China Stocks Rise; Taiwan Posts Largest Increase

Dow Jones Newswires

This article was automatically generated by Dow Jones using technology from Automated Insights.

Stocks in Greater China gained on Friday.

Hong Kong's Hang Seng Index rose 0.1% to 20111.56, and China's Shanghai Composite Index rose 0.1% to 3400.14. The Taiwan Taiex index rose 0.1% to 23275.68.

Among Hang Seng constituents, Lenovo Group Ltd. was the biggest gainer during the session, surging 8.6%, and Li Auto Inc. surged 6.2%. Semiconductor Manufacturing International Corp. rounded out the top three movers on Friday, as shares surged 5.5%.

Zhongsheng Group Holdings Ltd. posted the largest decline among companies on the Hang Seng, falling 4.5%, followed by shares of Nongfu Spring Co. Ltd., which fell 4.0%. Shares of Haidilao International Holding Ltd. fell 3.3%.

Among large mainland China stocks, Fujian Dongbai (Group) Co. Ltd. A was the biggest gainer during the session, surging 10%, and Anyuan Coal Industry Group Co. Ltd. A surged 10%. Qingdao Copton Technology Co. Ltd. A rounded out the top three movers on Friday, as shares surged 10%.

Shenzhen Intellifusion Technologies Co. Ltd. A posted the largest decline, dropping 12%, followed by shares of Yunnan Yunwei Co. Ltd. A, which dropped 10%. Shares of Nanjing Chemical Fibre Co. Ltd. A dropped 10%.

In Taiwan, Taimide Technology Inc. was the biggest gainer among large companies during the session, surging 10%, and ALi Corp. surged 10% Global Brands Manufacture Ltd. rounded out the top three movers, as shares surged 9.9%.

Compucase Enterprise Co. Ltd. posted the largest decline, dropping 10%, followed by shares of Hiyes International Co. Ltd., which dropped 10%. Shares of Evergreen Steel Corp. dropped 7.4%.

On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.30 while the New Taiwan dollar held steady against the U.S. dollar at NT$32.79.

Data source: Dow Jones Market Data, FactSet

Risk Warnings and Disclaimers

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Greater China Stocks Rise; Taiwan Posts Largest Increase

Dow Jones Newswires

This article was automatically generated by Dow Jones using technology from Automated Insights.

Stocks in Greater China gained on Friday.

Hong Kong's Hang Seng Index rose 0.1% to 20111.56, and China's Shanghai Composite Index rose 0.1% to 3400.14. The Taiwan Taiex index rose 0.1% to 23275.68.

Compucase Enterprise Co. Ltd. posted the largest decline, dropping 10%, followed by shares of Hiyes International Co. Ltd., which dropped 10%. Shares of Evergreen Steel Corp. dropped 7.4%.

On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.30 while the New Taiwan dollar held steady against the U.S. dollar at NT$32.79.

Data source: Dow Jones Market Data, FactSet

Risk Warnings and Disclaimers

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Nanjing Chemical Fibre to Buy Nanjing Gongyi Equipment Manufacturing

Greater China Stocks Rise; Taiwan Posts Largest Increase

Greater China Stocks Rise; Taiwan Posts Largest Increase

Risk Disclosure