Mongolian Coking Coal rose more than 3% recently, planning to acquire 50.5% of Universal Copper LLC for USD20.5 million

Mongolian Fossil Coal (00975) rose more than 3% in the morning trading, as of the time of writing, up 2.57% to HK$7.58, with a turnover of HK$7.0247 million.

On the news front, MONGOL MINING announced that on December 11, 2024, the Company and Mongolian Mining Corporation Pte.Ltd., a wholly-owned subsidiary of the Company and a company registered under the laws of Singapore ("the Buyer"), entered into a Securities Purchase Agreement with an independent third party and Talst Investment LLC, a limited liability company registered under the laws of Mongolia ("the Seller").

Under the Securities Purchase Agreement, the Buyer has conditionally agreed to purchase and the Seller has conditionally agreed to sell 50.5% of the issued and outstanding shares of Universal Copper LLC ("the Target Company", a limited liability company registered and existing under the laws of Mongolia) for a total cash consideration of US$20.5 million.