Qingdao Port (601298.SH) announced on July 12th that the company plans to acquire 100% equity of oil company held by Rizhao Port Group, 50.00% equity of Rizhao Sahua and 53.88% equity of United Pipeline held by Yantai Port Group through issuing shares and paying cash to purchase assets, and issue shares to not more than 35 (including 35) specific investors who meet the requirements by inquiry to raise supporting funds. The amount of share issuance shall not exceed 2 billion yuan. The transaction price (excluding the amount of funds raised) is 9.44 billion yuan.

This restructuring will inject the high-quality liquid bulk terminal-related assets of Rizhao Port Group and Yantai Port Group into the listed company, accelerate the integrated integration of high-quality liquid bulk terminals in Shandong Province, and promote the scale, intensive, and synergistic development of the main business. This restructuring is beneficial to enhancing the comprehensive competitiveness of the listed company and improving the corporate value of the listed company.

According to relevant regulations and after application to the Shanghai Stock Exchange, the company's A shares will resume trading on July 15, 2024 (Monday).