On the evening of July 7, Dalian Port announced the merger plan of Yingkou Port.
Dalian Port plans to merge with Yingkou Port at a price of 16.765 billion yuan by issuing A-shares in exchange for shares. As the merged party, Yingkou Port will be delisted and cancelled.
Meanwhile, Dalian Port will raise up to 2.1 billion yuan from no more than 35 designated investors.
Upon completion of the merger, Yingkou Port will terminate its listing and cancel its legal person status. Dalian Port will inherit and undertake all assets, liabilities, businesses, personnel, contracts and all other rights and obligations of Yingkou Port.
The A-shares issued by Dalian Port as a result of the merger will apply to be listed and circulated on the main board of Shanghai Stock Exchange.
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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