Li Wei (fourth from right), chairman of Shandong Energy Group, rings the bell to inaugurate Scharf AG’s trading on the Frankfurt Stock Exchange on September 24, 2024. Chinese Shandong Energy Group’s subsidiary Yankuang Energy on September 19 completed the acquisition of a 52.66 percent stake in German Scharf AG for a payment of 32.17 million euros ($35.89 million). Photo: Courtesy of Yankuang Energy
German listed mining and tunneling equipment manufacturer SMT Scharf AG (Scharf AG) on Tuesday completed its listing board transfer to the Frankfurt Stock Exchange following its acquisition by the Chinese Yankuang Energy Group Co (Yankuang Energy).
The deal will help improve Yankuang Energy’s influence and competitiveness in the global capital market, and it will also expand Scharf AG’s financing channels by enhancing the liquidity of its shares, said a statement sent by Yankuang Energy to the Global Times.
After the listing board…
