Jiangxi Copper shares jump on offer to takeover SolGold

SolGold

01/12/2025 04:08

** Hong Kong shares of Jiangxi Copper 0358.HK jump 12.3% to HK$34.44, their highest level since Oct 30, and on course for sixth consecutive session of gains

** Shanghai-listed stock 600362.SS rises 10% to 41.17 yuan, the highest point since Oct 31

** Jiangxi Copper said on Sunday it submitted two non-binding cash offers to the board of directors of London-listed SolGold Plc SOLG.L, proposing to acquire the entire share capital of SolGold at 26 pence per share in the latest proposal

** Jiangxi Copper says the non-binding cash offers were rejected by the board of directors of SolGold, and the company further reserves the right to adjust the terms of the potential acquisition

** SolGold rejects Jiangxi Copper takeover proposal

** "Shareholders are advised to take no action in relation to the Proposal. A further announcement will be made when appropriate. The SolGold Board remains confident in SolGold's standalone prospects" - SolGold

** YTD, Jiangxi Copper Hong Kong stock up 146.2%, Shanghai-listed shares up 81.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))