Jiangsu Hongda New Material to acquire film and TV company for 3.3 bln yuan

Wednesday, May 18, 2016

Jiangsu Hongda New Material Co Ltd Says it plans to acquire Yongle Film and Television for about 3.26 billion yuan ($499.96 million) via asset swap, cash, share issue.

Says it plans to raise up to 1 billion yuan in private placement of shares to fund acquisition, replenish capital, repay loans.


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