Core Viewpoint - China Hong Kong (03788) shares rose over 5% following the announcement of its subsidiary Watkins Gold acquiring a 6.63% stake 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] Group 1: Acquisition Details - Watkins Gold is acquiring a total of 6.63% equity in Cygnet Gold, which has a gold mine project with around 2.06 million ounces of gold resources [1] - The total consideration for the acquisition is AUD 16.6 million [1] - Upon completion, Cygnet Gold will become a wholly-owned subsidiary of Hong Kong [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 Hong Kong Gold, respectively, at a price of HKD 2.62 per share [1] - Following the subscription, the company's ownership in Hong Kong Gold will be diluted from 91.19% to 90.44% [1] Group 3: Fundraising and Future Plans - Hong Kong previously announced a pre-IPO fundraising for its non-wholly owned subsidiary Hong Kong Gold, issuing a total of 436 million shares at HKD 2.62 per share to six subscribers, including the company itself [1] - The total amount raised from this subscription is HKD 1.14 billion, intended to support the development of the Australian gold mining project and repay an internal loan of approximately AUD 86 million [1] - In July, Hong Kong announced plans to spin off its subsidiary "Hong Kong Gold" for an independent listing on the main board of the Hong Kong Stock Exchange [1]
中国罕王尾盘涨超5% 附属收购Cygnet Gold剩余股权 罕王黄金即将赴港上市