Zhitong Financial APP was informed that Xiamen Port Administration (03378) and the Offeror Xiamen Port Investment jointly announced that on June 2, 2022, the Offeror and the company had entered into a merger agreement and the Offeror and the company had agreed to implement the merger in accordance with the terms and conditions of the merger agreement (including the prerequisites and such conditions). After the merger, the company will be absorbed by the offeror in accordance with the Chinese Company Law and other applicable Chinese laws. As of 09:20, it was up 46.9% to quote HK $2.13, with a turnover of 82.0263 million.

It is reported that according to the merger agreement, after the prerequisites and conditions are met, the offeror will pay the write-off price of HK $2.25 per H-share in cash to H-share shareholders; and pay RMB 1.923795 per domestic share (equivalent to the write-off price per H-share at exchange rate) to domestic shareholders. The write-off price per H share represents a premium of approximately 55.17% over the closing price of approximately HK $1.45 per H share on the last trading day.