China Rare Earth (00769) plans to issue 400 million shares of consideration shares to acquire tungsten rod assets at a total consideration of 150 million Hong Kong dollars.

Wisdom Financial News APP reports that China Rare Earth (00769) has announced that on May 28, 2025 (after trading hours), the seller, Zhongjing International Limited, and the buyer's direct wholly-owned subsidiary, Wealthy Energy Limited, have entered into an agreement. Under this agreement, the buyer has conditionally agreed to purchase and the seller has agreed to sell tungsten bars for a total consideration of 150 million Hong Kong dollars. This will be paid by issuing and distributing 400 million consideration shares at a price of 0.375 Hong Kong dollars per share upon completion. The consideration shares will be issued according to the general authorization.