Shares of China CSSC (SHA:600150) and China Shipbuilding Industry (SHA:601989) were suspended from trading Tuesday amid planning for a major asset reorganization, which will see the merger of the two entities.
The suspension period will last up to 10 days, according to Tuesday filings with the Shanghai bourse.
Under the related transaction, China CSSC will issue shares to shareholders of China Shipbuilding Industry.
The move is subject to shareholder, board and regulatory approvals.
Price (RMB): ¥34.90, Change: ¥-3.5, Percent Change: -9.04%
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