Yankuang Energy Group Company Limited Class H (HK:1171) has released an update.
Yankuang Energy Group is planning a strategic cooperation with Highfield Resources, aiming to become the largest shareholder and gain control by acquiring newly issued shares through an asset injection and cash subscription. The non-binding Letter of Intent includes a share swap with Yancoal Canada and a targeted share issue raising up to US $220 million, with Yankuang contributing no more than US $90 million. While still subject to formal agreement and further announcements, the proposed transaction could significantly impact Yankuang’s financial consolidation and control over Highfield.
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