TD Holdings inks agreement with Chenzhou Dingmei Silver Co; shares down

BAIYU Holdings

19/03/2021 10:21

** Shares of China-based commodities trading service
provider  GLG.O  down 5.39% at $2.28 premarket
    ** Co and unit Tongdow E-Trade Limited enters a letter of
intent with Chenzhou Dingmei Silver Co for acquiring molybdenum
copper ore in Kazakhstan for 98 mln yuan ($15.06 mln) paid in
shares and cash
     ** Molybdenum copper are metal ores with rare precious
metals such as raw silver selenium rhenium tellurium and are
widely used in aerospace and military industries
    ** Upon close of deal, Chenzhou Dingmei shall transfer 100%
of the copper ore mine and 100% of the equity ownership of East
Kazakhstan Group Co to GLG   
    ** TD Holdings, formerly Bat Group, adds there can be no
assurance that a definitive agreement will be entered into or
that the proposed transaction will be consummated
    ** Up to last close, stock up ~51% YTD 

($1 = 6.5069 Chinese yuan renminbi)

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))