Daqin Railway paid 50pct of total consideration for assets purchased
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Monday, 06 Sep 2010
It is reported that Daqin Railway paid CNY 11.2 billion to the Taiyuan Railway Bureau for transport assets that were purchased on August 30th.
In addition to the CNY 5.2 billion that Daqin Railway previously paid, the company has given the Taiyuan Railway Bureau CNY 16.4 billion in total equaling half of the total consideration.
Daqin also plans to place 2 billion new shares to raise CNY 16.5 billion in order to pay for the asset acquisition.
(Sourced from reports P5W.NET)
