Dalian: Tianjin Marine announced that all the equities of the controlling shareholder Grand China Logistics have been frozen.
The company received documents signed by Qingdao Maritime Court and Shanghai Branch of China Securities Depository and Clearing to freeze all the shares that Grand China Logistics holds. The equity thawing date is 15 August 2015.
Tianjin Marine refused to explain the reason of it, but an official told SinoShip News: “What we are doing is following the relevant documents, the equity freeze will be carried out as scheduled.”
After over one month of discussion, Tianjin Marine announced Wednesday that the company has decided to stop the asset restructuring proposed by controlling shareholder Grand China Logistics, and resume trading on the Shanghai Stock Exchange.
Tianjin Marine is planning a non-public A share offering to raise around RMB12bn in funding to purchase ten VLCCs, four LNG carriers and replenish capital. [23/08/13]
