HomeChina Stock News Chalco’s application to buy out Baotou Al to be examined Friday
Chalco’s application to buy out Baotou Al to be examined Friday
Written by Administrator
Monday, 10 December 2007
BEIJING, Dec. 7 (InfoChina) – Aluminum Corp of China (ACH.NYSE; 601600.SH; 2600.HK) announced that its application to buy out Baotou Aluminum (600472.SH) will be examined by the China Securities Regulatory Commission (CSRC) Friday.
The two companies will suspend trading of their shares Friday. The result will be released on Dec. 10.
Chalco will place new A-shares in exchange for the shares of Baotou Aluminum at each Baotou Aluminum share for 1.48 Chalco’s new shares. Chalco will acquire 237.3093 million shares of Baotou Aluminum, accounting for 55.06 percent of the latter’s capitalization.
Upon completion, newly issued shares will be traded on the Shanghai Stock Exchange and all the assets, debts and equities of Baotou Aluminum will be inherited by Chalco. (Edited by Li Xueqing,
)
China Stock News 
