BMG Corporation has announced consolidated profit expectations of its group for the two years ending 31 December 2011 prepared by its board of directors under China Accounting Standards for Business Enterprises. The group’s profits attributable to owners of the company for 2010 and 2011 are forecast to be RMB2.682 billion and RMB3.494 billion respectively.
Referring to its merger with Taiheng Cement, BBMG Corporation also announced that it will issue an aggregate of 410.405 million A shares for the absorption of 70% stake in Taiheng Cement. The exchange ratio has been determined as 1.2 A shares for 1 Taihang Cement share and the purchase price of the Taihang Cement shares is RMB10.8 per share.
