Eight months after the announcement of the reorganization plan, Zheshang Development announced the adjustment plan.
On June 15, Zheshang Development announced that, according to the actual situation of the securities market and through the negotiation of all parties involved in the transaction, it is planned to make adjustments to the transaction plan, add supporting funds and introduce strategic investors.
According to the relevant provisions of CSRC, it is expected to constitute a major adjustment to the major asset restructuring plan.
The adjustment of the plan shall be reviewed by the board of directors again, and shall be submitted to the general meeting of shareholders for review and approval, and submitted to the CSRC for approval.
As early as October 25, 2019, Zheshang Development announced the reorganization plan, proposing to purchase 100% of the shares held by it from the controlling shareholder Zhejiang Communications Investment Group by issuing shares.
Upon completion of the transaction, Zhejiang Shipping Group will become a wholly owned subsidiary of the company. After negotiation by both parties, the purchase price of this issue of shares is 5.52 yuan/share.
Zhejiang Shipping Group achieved revenue of 1.548 billion yuan in 2017, 1.638 billion yuan in 2018 and 997 million yuan in January-September 2019. Net profits attributable to the parent company owners were 206 million yuan, 367 million yuan and 912 million yuan, respectively.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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