Qingdao Port Announces Major Restructuring Plan

Qingdao Port International Co Ltd Class H (HK:6198) has released an update.

Qingdao Port International Co., Ltd. is set to undergo a significant transformation with a major restructuring plan that involves asset acquisitions from Rizhao Port Group and Yantai Port Group, amounting to RMB 9.44 billion. Additionally, the company seeks to bolster its financial position through the issuance of new A shares, aiming to raise no more than RMB 2 billion, which is contingent on the restructuring’s success but not vice versa. These moves are subject to shareholder approval as per Hong Kong Listing Rules due to the restructuring’s scale and the connected nature of the transactions.

For further insights into HK:6198 stock, check out TipRanks’ Stock Analysis page.