Yulong to Buy Michelangelo's Crucifixion Painting for $75 Million in Stock -- Update
Yulong to Buy Michelangelo's Crucifixion Painting for $75 Million in Stock -- Update
DJ Yulong to Buy Michelangelo's Crucifixion Painting for $75 Million in Stock -- Update
DJ玉龍將以7500萬美元股票收購米開朗基羅的十字架畫作--最新消息
By Colin Kellaher
科林·凱萊赫(Colin Kellaher)著
Shares of Yulong Eco-Materials Ltd. (YECO) surged more than 25% on Monday after the company said it agreed to buy Michelangelo's "Crucifixion" painting for $75 million in restricted stock.
玉龍生態材料有限公司(YECO)股價週一飆升逾25%，此前該公司表示同意以7,500萬美元的限制性股票收購米開朗基羅的《十字架》畫作。
Yulong, which in October completed the acquisition of the Millennium Sapphire gem for $50 million in restricted stock, said it will issue 7.5 million restricted shares valued at $10 apiece to acquire the Michelangelo work.
玉龍在10月份以5000萬美元的限制性股票完成了對千禧藍寶石寶石的收購。該公司表示，將發行750萬股限制性股票，每股價值10美元，以收購米開朗基羅的作品。
Yulong said the painting is one of several Michelangelo did for his friend and confidante, Italian Renaissance poet Vittoria Colonna. The company said the work is currently owned by Ridgway Mitchell Smith, a descendant of Italy's powerful Medici family, to whom Ms. Colonna gave her collection.
玉龍説，這幅畫是米開朗基羅為他的朋友兼紅顏知己、意大利文藝復興時期詩人維多利亞·科隆娜創作的幾幅畫中的一幅。該公司説，這件作品目前的所有者是裏奇韋·米切爾·史密斯(Ridgway Mitchell Smith)，他是意大利強大的美第奇家族的後裔，科隆娜把她的藏品捐給了他。
Yulong said the acquisition is contingent upon obtaining an appraisal of at least $75 million for the painting, along with authentication letters and other verification documents from the seller. The parties have 30 days to complete the deal, the company added.
玉龍説，收購取決於獲得至少7500萬美元的畫作估價，以及賣家的鑑定信和其他核實文件。該公司補充説，雙方有30天的時間完成交易。
Yulong, previously a producer of fly-ash bricks based in the city of Pingdingshan in Henan Province, China, in August announced plans to acquire the Millennium Sapphire and take it on a tour of museums around the world. The company, which has since sold off its operations in China and moved its headquarters to New York, is in the process of changing its name to Millennium Enterprises Ltd.
玉龍之前是一家生產粉煤灰磚的公司，總部位於中國河南省平頂山市。今年8月，玉龍宣佈了收購千年藍寶石的計劃，並帶着它在世界各地的博物館巡迴演出。該公司後來出售了在中國的業務，並將總部遷至紐約，目前正在更名為千禧企業有限公司(Millennium Enterprise Ltd.)。
Yulong said it plans to use its stock as currency to acquire rare art works, boost their value through exhibitions and media exposure, and "open the opportunity of shared ownership of its acquired masterpieces to anyone with a brokerage account."
裕隆表示，計劃用其股票作為貨幣收購稀有藝術品，通過展覽和媒體曝光提升其價值，並“向任何有經紀賬户的人開放共享其收購傑作的機會”。
Shares of Yulong, which closed Friday at $5.10, rose 26.4% to $6.60 in early trading Monday. The stock, which traded around $1.38 before the sapphire deal was announced in August, has been on a roller-coaster rise since then, trading as high as $17.87 on Oct. 18.
裕隆週五收報5.10美元，週一盤初股價上漲26.4%，報6.60美元。在8月份藍寶石交易宣佈之前，該股的交易價格約為1.38美元，自那以來一直在過山車般的上漲，10月18日的交易價格高達17.87美元。
Write to Colin Kellaher at colin.kellaher@wsj.com
寫信給Colin Kellaher，電子郵件：colin.kellaher@wsj.com
(END) Dow Jones Newswires
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November 19, 2018 10:35 ET (15:35 GMT)
2018年11月19日美國東部時間10：35(格林尼治標準時間15：35)
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