Ningbo Marine takeover taking time

Shanghai: The resumption of trading for Ningbo Marine’s shares and convertible bonds has been delayed as its takeover by a local utility drags on. The shipowner was due to restart trading on the Shanghai Stock Exchange on July 28, but it has yet to recommence.

“Due to the equity transfer to Zhejiang Energy Group, our shares and convertible bonds were delayed to start trading to an unknown date,” an official from Ningbo Marine told SinoShip News today. “Whether all the equity or part of it will be transferred remains unclear at the moment. We have several shareholders, the final result depends on their decisions,” the official added.  [01/08/12]

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