Horse racing industry to add shares to share the absorption of building materials group

NetEase Finance September 27 News of the Monday night horse racing Industry announced that the company to add shares for the absorption of merged building materials group, absorption and merger completed, building Materials group legal person qualification cancellation, horse racing industry continued to survive.　　Issue price 22.13 yuan/share announcement, Ningxia Building Materials Group Limited Liability company as a wholly-owned subsidiary of China Sinoma Co., Ltd. is currently holding 69.75 million shares of horse racing industry, is the controlling shareholder of horse racing industry, the horse racing industry is to be issued to the stock Exchange shares to absorb the merger of building materials group. The Non-public offering price of 22.13 yuan/share, the number of shares issued 114,691,721 shares.　　Deduction of the original building materials group held 69.75 million shares, the absorption of the merger after the actual increase in horse trading shares about 44.9417 million shares. Sinoma Group Holding status unchanged horse racing industry said, after the merger completed, Building materials group legal personality cancellation, horse racing industry continued to survive; the name of the surviving company is to be changed to "Ningxia Building Materials Group Co., Ltd.", the stock referred to as "Ningxia building Materials"　　The building materials group holds the horse racing industry 69.75 million shares to be cancelled because of the absorption merger, the Sinoma shares holds the building materials group's shareholder equity to the horse racing industry's restricted shares; the controlling shareholder of the horse-racing industry is changed by the building material group to the Sinoma stock, the actual controller is still the Sinoma group New funds for the acquisition of cement enterprises after the merger, the horse racing industry will reduce liabilities 14,348.80,000 yuan, add 55,186.840,000 yuan to use money.　　The company plans to use 8,658.240,000 Yuan money to acquire the Baotou Cement Co., Ltd. 45% of the stake, the use of 28,929 830,000 yuan Money Acquisition Wuhai Cement Co., Ltd. 45% of the equity.　　The announcement said the two acquisitions had been approved by the fourth session of the Board of Trustees on July 26, 2010 and had signed an equity transfer agreement with the parties in force.　　For surplus cash available, horse Racing said the initial plan was to replenish liquidity and acquire and annex other cement companies. September 28 The duplicate horse racing industry said that the shares of the horse-racing shares exchanged for the Chinese stock were not sold or transferred to third parties within 36 months from the date of the issuance of the shares.　　The company shares on the September 28, 2010 duplicate. Huatai Securities analysis that the earlier losses caused by a large decline in valuations and the implementation of asset restructuring may bring about trading opportunities, temporarily maintain an "overweight" rating, but to remind investors to focus on the risk of a peak recession, if the future price of cement fall more than expected, then the profit forecast will be downward.