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Qingdao Port International Co Ltd Class H ( (HK:6198) ) has shared an announcement.
Qingdao Port International Co., Ltd announced adjustments to its restructuring plan due to delays in resolving bankruptcy matters of key clients. The company has decided to withdraw from acquiring stakes in United Pipeline and Gangyuan Pipeline but will continue to acquire full ownership of an Oil Company and half ownership of Rizhao Shihua. These changes are significant under Hong Kong Listing Rules and involve connected transactions with Rizhao Port Group, a subsidiary of Shandong Port Group. The transaction will result in Oil Company becoming a subsidiary and Rizhao Shihua a joint venture, without affecting the control structure of the company.
More about Qingdao Port International Co Ltd Class H
Qingdao Port International Co., Ltd, established in the People’s Republic of China, operates in the port and logistics industry. The company is involved in managing and operating port facilities and providing logistics services, with a focus on strengthening its market position through strategic acquisitions and restructuring.
YTD Price Performance: -5.16%
Average Trading Volume: 4,391,550
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$56.95B
For an in-depth examination of 6198 stock, go to TipRanks’ Stock Analysis page.
