Lier Chemical Co LtdChina Resources Double-Crane plans to acquire a 23.5% stake at a premium price of 30.07 yuan per share, well above current market price, triggering a limit-up move.
Glufosinate-ammonium leader Lier Chemical opened at its daily limit up on July 30, briefly broke the board during the session before sealing back at 16.18 yuan, with over 200,000 lots in unfilled buy orders and a latest market cap of 12.9 billion yuan. In related news, China Resources Double-Crane plans to acquire a 23.5% stake in Lier Chemical via cash payment, at a transfer price of 30.07 yuan per share, for a total consideration of 5.656 billion yuan. Upon completion of the transaction, Lier Chemical's controlling shareholder will change to China Resources Double-Crane, and its actual controller will become China Resources Company Limited. The deal is expected to constitute a major asset restructuring.
Lier Chemical Co LtdChina Resources Double-Crane plans to acquire a 23.5% stake at a premium price of 30.07 yuan per share, well above current market price, triggering a limit-up move.
China Resources Double-Crane Pharmaceutical Co LtdChina Resources Double-Crane is the acquirer in a major asset restructuring to gain control of Lier Chemical, a strategic move.
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