Ningbo Xinhai Electric updates acquisition of Yunda Express via assets swap and share issue

Industry: Other 2016-08-22

Ningbo Xinhai Electric Co., Ltd. :

* Says the transaction price of 100 percent stake in Yunda Express is updated to 17.8 billion yuan, and assets to be divested is valued at 674 million yuan

* Says it will issue 863.4 million shares at 19.79 yuan per share, raising 17.1 billion yuan for transaction payment

Source text in Chinese: goo.gl/qG77Ok

Further company coverage: (Beijing Headline News).

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Source: Reuters.com

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