Shengtun Mining Purchasing 97.22% Shares Of Sihuan Zinc And Germanium

Shengtun Mining Purchasing 97.22% Shares Of Sihuan Zinc And Germanium

Lately, Shengtun Mining released an announcement: upon the decision by 1st 2019 working meeting of China Securities Regulatory Commission on Mergers and Acquisitions of Listed Companies, the assets item of share purchasing is given approval with conditions.

The transaction consideration of this assets is RMB 2.139 billion. 97.22% of Sihuan Zinc & Germanium Technology Co., Ltd. was bought by the company in the form of shares issuing and cash payment. Previously, the company has held 2.78% of Sihuan shares. After the purchasing, Sihuan Zinc & Germanium will be a wholly-owned subsidiary of the listed company.

Shengtun Mining has been making arrangements in non-ferrous mining and processing and value-added service of metal chain. It also has a presence in metal smelting industry. Shengtun is making steady expansion for its scale and industrial pattern. After the purchasing, the company will enhance its business deployment in zinc and germanium industrial chain. On the basis of exploring in existing non-ferrous mines, value-added service in metal chain and cobalt material business, Shengtun will find access to lead zinc and multiple valuable metals smelting fields. Its goal is to enhance whole-chain service level, cultivate new growth point, improve value and efficiency in smelting process and further enhance overall earning capacity for listed company, finally laying a solid foundation for taking the lead in zinc area.