Shanghai-listed Jinzhou Port has announced that its controlling shareholder Dalian Port Group is currently planning a major restructuring deal involving a shareholding change in the company, and has suspended stock trading.
A source in Dalian Port Group told Splash that the deal might involve the merger of port assets in Liaoning. “Dalian Port is already the largest shareholder of Jinzhou Port, so the deal might be led by the government to set up a provincial port operation company, which will integrate all the major port assets in the region,” the source said.
Dalian Port currently holds 19.08% equity interest in Jinzhou Port.
The merger wave of port assets in China has started following the central government’s release of “One Belt, One Road” initiative. In September, Ningbo Port announced a merger with Zhoushan Port, with the deal still ongoing. Lianyungang Port in Jiangsu also set up a holding company in September to integrate the small port assets in the region.