China Pingmei Shenma Group completed the acquisition of a 5.19% stake in Zhengzhou Coal Industry & Electric Power Co., Ltd. from Zhengzhou Coal Industry(Group)Co.,Ltd.
February 15, 2022
Share
China Pingmei Shenma Group agreed to acquire 5.19% stake in Zhengzhou Coal Industry & Electric Power Co., Ltd. (SHSE:600121) from Zhengzhou Coal Industry(Group)Co.,Ltd. on December 16, 2021. Before this equity change, China Pingmei Shenma Energy & Chemical Group Co., Ltd. did not hold the company's shares. After this equity change, China Pingmei Shenma Energy & Chemical Group Co., Ltd. will hold 63,231,776 shares of the company, accounting for 5.19% of Zhengzhou Coal Industry & Electric Power Co., Ltd and Zhengzhou Coal Group holds 702,439,280 shares of the company, accounting for 57.65% of the company's total shares. Zhengzhou Coal Group is still the controlling shareholder and the SASAC of the provincial government is still the actual controller of the company. Transfer requires the approval of the SASAC of the provincial government and the compliance confirmation by the Shanghai Stock Exchange before it can be registered in China Securities Depository and Clearing Co., Ltd
China Pingmei Shenma Group completed the acquisition of a 5.19% stake in Zhengzhou Coal Industry & Electric Power Co., Ltd. (SHSE:600121) from Zhengzhou Coal Industry(Group)Co.,Ltd. on February 16, 2022.
ZHENGZHOU COAL INDUSTRY & ELECTRIC POWER CO., LTD. is a China-based company principally engaged in the production and sale of coal. The Company operates through three segments: Coal segment, Electric Power segment and Logistics segment. Coal segment mainly produces industrial power coals, such as lean coal, meager coal and anthracite coal. Electric Power segment provides the Company with electric power for production, as well as involves in the sale of electric power. Logistics segment provides supply of materials and material equipment for the Company and downstream companies; material equipment include coal mining machines, roadheaders, belt conveyors, scrapers, emulsion pumps, water pumps, motors and drills, while materials include steel, wood and accessories. The Company also involves in rail transportation business. The Company operates business in domestic market.
China Pingmei Shenma Group completed the acquisition of a 5.19% stake in Zhengzhou Coal Industry & Electric Power Co., Ltd. from Zhengzhou Coal Industry(Group)Co.,Ltd.