After completing the world's largest IPO after the financial turmoil, China Zhongwang will accept China's largest cemented carbide company Qinghai Guoxin Aluminum Co., Ltd. (hereinafter referred to as Guoxin).
Recently, some media quoted Qinghai provincial government sources as saying that Zhongwang intends to acquire Qinghai Guoxin, and the negotiations have been going on for nearly five months. The news has not been positively confirmed by both parties, but it is worth noting that Zhongwang applied for suspension on January 7th, indicating that the company is pending the issuance of certain price-sensitive information.
Lu Chang, vice president of Zhongwang, told reporters that it is currently in a sensitive period before the announcement, and no comment can be made. He also said that "some small orders last year could not be connected due to capacity reasons", so this year's capacity expansion will be the main direction of Zhongwang Capital's expenditure. “In our stock offering, we mentioned that the expansion of capacity in the next two to three years is a continuous investment.†He said, “The expansion of capacity is nothing more than two ways, acquisition or new construction, and Zhongwang will consider both sides.â€
Another person familiar with the matter said that Zhongwang may issue an announcement and resume trading on these two days.
Zhongwang is currently the world's third largest industrial and aluminum R&D manufacturer dedicated to the lightweight development of transportation in Asia and China. The company went public in May last year and raised more than $9 billion. It was the world's largest IPO after the financial tsunami. According to Guoxin's public information, the company is currently the largest professional manufacturer of high precision and hard aluminum alloy materials in China.
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