Core Viewpoint - China Rare Earth Holdings (03788) saw a significant increase in stock price, rising over 5% to HKD 4.2, with a trading volume of HKD 10.9881 million [1] Group 1: Acquisition Details - China Rare Earth's subsidiary, Watkins Gold, has acquired a total of 6.63% equity in Cygnet Gold, which operates a gold mine project with approximately 2.06 million ounces of gold resources, for a total consideration of AUD 16.6 million [1] - Following the acquisition, Cygnet Gold will become a wholly-owned subsidiary of China Rare Earth [1] Group 2: Share Subscription - Executive Director Dr. Qiu Yumin and minority shareholders of Cygnet Gold plan to subscribe for 8.7 million and 12.2 million new shares of China Rare Earth at a price of HKD 2.62 per share, respectively [1] - Post-transaction, the company's stake in Watkins Gold will be diluted from 91.19% to 90.44% [1] Group 3: Fundraising and Future Plans - China Rare Earth previously announced a pre-IPO fundraising for its non-wholly owned subsidiary, Watkins Gold, issuing a total of 436 million shares at HKD 2.62 per share, raising a total of HKD 1.14 billion [1] - The funds are intended to support the development of the Australian gold mining project and to repay an internal loan of approximately AUD 86 million [1] - In July, China Rare Earth announced plans to spin off its subsidiary, Watkins Gold, for independent listing on the Hong Kong Stock Exchange [1]
港股异动 | 中国罕王(03788)尾盘涨超5% 附属收购Cygnet Gold剩余股权 罕王黄金即将赴港上市