Anhui Conch Cement (HKG:0914) announced that its board of directors has passed a resolution for the company's subscription of shares in the private placing of shares in Xinjiang Qingsong Building Materials and Chemicals (Group) Co., Ltd. and Anhui Conch Cement was authorized to enter into the agreement with Xinjiang Qingsong in relation to the share subscription.

Xinjiang Qingsong would issue no more than 262 million new shares under its private placement, which was vetted and approved by the China Securities Regulatory Commission.

Anhui Conch Cement intends to subscribe no more than 150 million shares of Xinjiang Qingsong at the subscription price of RMB13.53 per share.

Source:chinesestock.org