A mega-merger announced years ago between Chinese state shipbuilders, China State Shipbuilding Corp and China Shipbuilding Industry Co, is about to be implemented at the bourse level.
Share trading for both firms was suspended on the Shanghai Stock Exchange on Tuesday for up to 10 days, pending a share swap that will result in CSSC absorbing the smaller CSIC.
Under the plan, CSSC will issue “A” shares to all shareholders of CSIC.
