Eastern Gold Jade Lowers Private Placement Issue Price


February 20 -- Hubei Eastern Gold Jade (600086), a company involved in the distribution of jade and gold, adjusted its private placement plan due to market changes, while keeping the fund raising amount of 800 million yuan unchanged, reports stcn.com, citing a company filing.

The company now plans to issue a maximum of 67 million shares at 12.09 yuan per share. It had previously intended to issue up to 40 million shares at 19.42 yuan per share.

Controlling shareholder, Yunnan Xinglong Industrial, gave a commitment that it will keep the original subscription amount unchanged.

It was previously reported that Yunan Long Industrial planned to spend 160 million yuan to participate in the private placement.

Shares of the company rose 0.76 percent to close the morning session at 14.59 yuan per share.


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