Behai port restructuring

Dalian: Beihai Port Co announced an asset restructuring plan Wednesday that will see it issue shares to its controlling stakeholder, Fangcheng Port for majority ownership rights in two of the latter's subsidiary companies.

In the meantime, Beihai Port Co will also issue shares to up to 10 other investors as part of an upcoming round of fundraising.

The book value of the assets to be purchased from Fangcheng Port amounts to 1.98bn yuan ($310m) in total. [26/07/12]

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