BRIEF-Zhejiang Huafon Spandex To Buy New Material Firm For 12 Bln Yuan Via Cash, Share Issue

Reuters

Updated 11 September 2019 at 9:10 am

Sept 11 (Reuters) - Zhejiang Huafon Spandex Co Ltd :

* SAYS IT PLANS TO BUY NEW MATERIAL FIRM FOR 12 BILLION YUAN ($1.69 billion) VIA CASH, SHARE ISSUE

* SAYS IT AIMS TO RAISE UP TO 2 BILLION YUAN IN SHARE PRIVATE PLACEMENT TO FUND THE ACQUISITION, BOOST WORKING CAPITAL AND REPAY DEBTS Source text in Chinese: https://bit.ly/2k9TR8w Further company coverage: ($1 = 7.1164 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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