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Gome To Spend CNY6 Billion To Buyback Shares
January 20, 2005 |
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Comments | Category: Gadgets & Electronics
Local media report that Gome, one of China's largest home appliance and electronics stores, will soon buyback the remaining 35% of its outstanding shares from Huang Guangyu, one of Gome's biggest shareholders.
The price Gome has supposedly offered for the acquisition is as high as CNY6.58 billion.
Of the total price, CNY1 billion will be paid in cash and the remaining CNY5.58 through issuing 738 million new shares (equal to 31% of the total shares after Gome's expansion).
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