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China Huarong (2799) subscribes 580m shares @$0.40 of Huarong Investment (1277)
Company announcement, 12-Jan-2017
Huarong Investment is already 27.99% owned by China Huarong, with a stake acquired at up to $1.31 per share, so it will make a general offer at that price. Huarong Investment has already borrowed heavily from China Huarong and made a string of unlisted investments with the cash.