Guangzhou Shipyard International's equity transfer completed

CSSC Offshore & Marine Engineering issued an announcement that the company sold 27.4214% equity of Guangzhou Shipyard International to China State Shipbuilding Corporation. CSSC paid the transaction consideration by way of non-public issue of A shares to the company.

At the same time, the company gave up the preemptive purchase of 23.5786% of the equity of Guangzhou Shipyard International and 30.9836% of the equity of Huangpu Wenchong held by the market-oriented debt to equity investors. The issue has been approved by CSRC.

On March 19, 2020, Guangzhou Shipyard International obtained the “Notification of Change Registration (Filing)” issued by Guangzhou Municipal Market Supervision Administration, allowing the transfer of the 27.4214% equity of Guangzhou Shipyard International originally held by the company to the counterparty CSSC. So far, this major asset sale has completed the transfer.
 
Source: Sarah Yu, XINDE MARINE NEWS

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