June 3 -- Beijing Xidan Department Store (600723) plans to issue 249 million shares at 9.92 yuan per share to its major shareholder, Beijing Tourism Group, in order to fully acquire Beijing New Yansha Holding (Group), a company previously controlled by Beijing Tourism Group, reports Securities Daily, citing a company filing.

Following the share issuance, the total share capital of Beijing Xidan Department Store will be increased to 658 million shares.

Beijing New Yansha Holding (Group) currently owns assets such as New Yanshan Mall, Yansha Outlets, Yansha Youyi Shopping City, and Guiyou Building.

Yansha Outlets recorded sales revenue of almost three billion yuan in 2010.

Xidan Department Store recorded total sales revenue of almost three billion yuan in 2010, below the five billion yuan generated by Beijing New Yansha Holding (Group) in 2009.