Cloud copper to buy 300 million shares of 4 companies

Yunnan copper Industry (000878.　　SZ) today announced that the company will buy private shares of 4 companies, as well as a wholly-owned subsidiary to increase capital, and repay the company part of the loan. Yunnan Copper Industry Bulletin said that the private issue of shares in the number of not more than 300 million shares, the additional price of 18.64 yuan/share. The total amount of funds raised does not exceed 4.58 billion yuan. After deducting the issue fee, the main investment in the following three projects: one is a wholly-owned subsidiary Yuxi Mining Co., Ltd. increased capital of 1.25 billion yuan, mainly for investment in the Red Hill copper mine 30,000 t/a concentrate copper-Western mining project; The second is for the purchase of Cloud Copper holdings of Yunnan Tatsu Asia Nonferrous Metals Co., Ltd. 100% Equity, Yunnan Star Flame Nonferrous Metals Co., Ltd. 100% Equity, Yunnan Jinggu Mining and Metallurgy Co., Ltd. 71.27%, Kunming West Branch Industry and Trade Co., Ltd 100% Equity, the transfer price in accordance with the evaluation value of 903 million yuan, all to raise capital investment; third, repay the company's part of the loan, is expected to 1.3 billion yuan.