Guangzhou: Beihai Port has received approval from China Securities Regulatory Commission to issue shares to its shareholder Guangxi Beibu Gulf Port Group to purchase assets in order to integrate ports resources.
Beihai port plans to issue 690 million shares to Beibu Gulf Port Group and Fangcheng Port Group to purchase 100% equity of its subsidiaries Qingzhou Port Group and Fangchenggang Port Group, along with 57.57% equity in Beibu Gulf Towing Company.
The port assets restructure plans for Beihai port was launched in 2008, however it was suspended in 2009. [09/12/13]
