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Port control
By Zhang Fengming |
November 16, 2010, Tuesday
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Print Edition
Print Edition
SHAREHOLDERS of Shanghai International Port (Group) Co have agreed to allow the company to issue new shares through a private placement to gain control of Yangshan Deep-water Port, the company said in a filing to the Shanghai Stock Exchange yesterday.
The port operator will gain control of Yangshan port by issuing 1.76 billion shares at 4.49 yuan (67 US cents) each through a private placement with Tongsheng Investment Group. The plan gained approval from 99.9 percent shareholders.
The port operator will gain control of Yangshan port by issuing 1.76 billion shares at 4.49 yuan (67 US cents) each through a private placement with Tongsheng Investment Group. The plan gained approval from 99.9 percent shareholders.
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