Nbd.com.cn
Meidu announced to raise RMB2.46 billion through share placement. $135 million will be used to acquire Woodbine of US and start to enlarge the field capacity of Eagle Ford shale area (South Texas). RMB700 million will be used as the liquid assets.
The targets of the placement include Meidu Chairman of the board Mr. Wen Zhanghua, Harvest Fund, Zhuhai Changshi Private Equity Fund, Union Life, Shenzhen Fucai Private Equity Fund, Changsha Shude Venture Capital, Qingdao Hedong Investment, Ningbo Liantong Private Equity and Menulife Teda Fund Management. Mr. Wen Zhanghua has 21.79% shares and will have 26.06% after the placement. He will still be the actual owner of Meidu.