Zhejiang Wansheng (SHA:603010) plans to fully acquire its second-tier subsidiary Jiangsu Wansheng Dawei Chemical, according to a Shanghai bourse filing on Thursday.
The stainless steel products manufacturer will take over Wansheng Dawei Chemical from its direct subsidiary, Zhangjiagang Dawei Additives, which no longer has substantive operations.
Wansheng's shares soared 10% during the afternoon trade.
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