Zhitong Finance App News, Zhaojin Mining (01818) announced that on October 30, 2023, Zhaojin Capital, an indirect wholly-owned subsidiary of the company, has submitted its offeror statement. According to this, it will submit a conditional offer to acquire all target company shares not currently held by the company at an offer price of 0.58 Australian dollars per share of the target company (including target company shares issued during the offer period, according to the offeror's statement, whether due to conversion of target company options, performance rights or other reasons). The offer price is a 36% premium over the target company's last closing price on the ASX prior to the date of this announcement (i.e. $0.425 per share of the target company share). The maximum total cost of the proposed acquisition was approximately A$629 million (equivalent to approximately HK$3.126 billion).
According to the announcement, the offer period ended on May 14, 2024 at 7 p.m. Australian Eastern Standard Time. At the end of the offer, Raising Capital's voting rights in the target company will be 90.72%, and the target company will become a subsidiary of the company.