UPDATE: China Natural Resources (CHNR) to Explore Spinoff of Coal Mining Unit
Tweet
Share
E-mail
(Updated - June 4, 2012 3:01 PM EDT)
China Natural Resources (Nasdaq: CHNR) today announced that its Board of Directors has provided preliminary authorization for the Company to explore a possible spin-off and listing on an overseas stock exchange of the Company's coal-mining and related operations, subject to, among other things, regulatory approvals and market conditions. The proposed spin-off and listing is expected to include the offering of ordinary shares that will not be registered under the Securities Act of 1933, as amended. No decisions have been made regarding the timing and terms of such transaction or whether the Company will ultimately proceed with such a transaction.
China Natural Resources (Nasdaq: CHNR) today announced that its Board of Directors has provided preliminary authorization for the Company to explore a possible spin-off and listing on an overseas stock exchange of the Company's coal-mining and related operations, subject to, among other things, regulatory approvals and market conditions. The proposed spin-off and listing is expected to include the offering of ordinary shares that will not be registered under the Securities Act of 1933, as amended. No decisions have been made regarding the timing and terms of such transaction or whether the Company will ultimately proceed with such a transaction.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Keurig Dr Pepper Inc. (KDP) Confirms Previously Announced Resignation of CEO Gamgort, Appoints Timothy Cofer New CEO
- Canadian Pacific Kansas City (CP) Announces Results of Board Elections
Create E-mail Alert Related Categories
Corporate News, Hot Corp. News, Trading HaltsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
