Sinoma buys Qilianshan Cement stake for Rmb501m

Sinoma buys Qilianshan Cement stake for Rmb501m
Published: 16 June 2009

China National Materials (Sinoma) said it has agreed to subscribe 55 million A shares of Qilianshan Cement at Rmb9.11 per share for a total amount of of Rmb501.05m.

Upon completion of the share subscription agreement, Sinoma will hold 11.58% stake in Qilianshan Cement, and will become the second largest shareholder of the firm.