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Youyan New Materials: Subsidiary invested to purchase subscription rights for some shares in Xiong'an Rare Earth

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Youyan New Materials: Subsidiary invested to purchase subscription rights for some shares in Xiong'an Rare Earth

Issue Time:2020-01-10
Securities Times e company news, Youyan New Materials announced on the evening of the 8th that the holding subsidiary Youyan Rare Earth purchased the Hebei Xiong'an Rare Earth Functional Materials Innovation Center Co., Ltd. Xiong'an Rare Earth) 20 million yuan investment, corresponding to 25.97% equity subscription rights. After the investment is completed, Youyan Rare Earth will become the largest shareholder of Xiong'an Rare Earth, accounting for 51.95%. As of the announcement date, Xiong'an Rare Earth has not yet started actual operations. The transaction is conducive to Xiong'an Rare Earth in carrying out various businesses, giving full play to its comprehensive advantages, and promoting the supply-side structural reform of the rare earth industry.
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