Yuan Long Ping High-Tech Agriculture to Dispose Stake in Unit to Mitsui & Co. for 490 Million Yuan; Mitsui's Shares Up 3%

MT Newswires

Yuan Long Ping High-Tech Agriculture plans to sell 34% of vegetable seed retailing subsidiary Tianjin Derui Special Industry for 489.6 million yuan, according to a Shenzhen Stock Exchange filing on Wednesday.

Japanese integrated trading company Mitsui & Co. , or its designated company, will buy the stake.

After the completion of the transaction, the Chinese hybrid rice developer's holdings in Tianjin Derui will be reduced to 66%.

Mitsui's shares rose 3% in recent trade.

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Yuan Long Ping's IT Arm to Set Up 85 Million Yuan JV With Kaihong Digital

MT Newswires

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Yuan Long Ping High-Tech Agriculture's subsidiary, Longping High-Tech Information Technology (Beijing), and information technology company Shenzhen Kaihong Digital Industry Development plan to establish an 85 million yuan joint venture, according to a Shenzhen Stock Exchange filing on Wednesday.

The venture, Longping Kaihong Agricultural Technology (Beijing), will offer information system integration services, big data services, and data processing services.

Longping High-Tech will invest 40 million yuan into the venture's capital, owning 47.06% of its share capital, while Kaihong Digital will invest 15 million yuan, holding 17.65% of the venture. The remaining 35.29% will be owned by an employee stockholding platform that will be established for the venture.

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Yuan Long Ping's IT Arm to Set Up 85 Million Yuan JV With Kaihong Digital

MT Newswires

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The venture, Longping Kaihong Agricultural Technology (Beijing), will offer information system integration services, big data services, and data processing services.

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Yuan Long Ping High-Tech Agriculture to Issue Up to 1.2-Billion Yuan of Shares to Controlling Shareholder

MT Newswires

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Yuan Long Ping High-Tech Agriculture is planning to raise up to 1.2 billion yuan via the issue of 152,477,763 shares at 7.87 yuan apiece.

Proceeds will go toward loan repayment and working capital, according to a Tuesday filing with the Shenzhen bourse.

The shares will be issued to controlling shareholder CITIC Agriculture, with the new shares subject to an 18-month lock-up period.

The agricultural by-products company's shares closed 3% lower Tuesday.

Risk Warnings and Disclaimers

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Yuan Long Ping High-Tech Agriculture to Issue Up to 1.2-Billion Yuan of Shares to Controlling Shareholder

MT Newswires

000998

0.00%

Yuan Long Ping High-Tech Agriculture is planning to raise up to 1.2 billion yuan via the issue of 152,477,763 shares at 7.87 yuan apiece.

Proceeds will go toward loan repayment and working capital, according to a Tuesday filing with the Shenzhen bourse.

The shares will be issued to controlling shareholder CITIC Agriculture, with the new shares subject to an 18-month lock-up period.

The agricultural by-products company's shares closed 3% lower Tuesday.

Risk Warnings and Disclaimers

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Yuan Long Ping High-Tech Agriculture to Dispose Stake in Unit to Mitsui & Co. for 490 Million Yuan; Mitsui's Shares Up 3%

Yuan Long Ping's IT Arm to Set Up 85 Million Yuan JV With Kaihong Digital

Yuan Long Ping's IT Arm to Set Up 85 Million Yuan JV With Kaihong Digital

Yuan Long Ping High-Tech Agriculture to Issue Up to 1.2-Billion Yuan of Shares to Controlling Shareholder

Yuan Long Ping High-Tech Agriculture to Issue Up to 1.2-Billion Yuan of Shares to Controlling Shareholder

Risk Disclosure