Qingdao Port International (06198.HK)(601298.SH) announced that it plans to issue shares and pay cash to purchase 100% equity of Rizhao Port Co., Ltd.'s Rizhao Port Oil Terminal, 50% equity of Rizhao Sihua Crude Oil Terminal, 53.88% equity of Shandong Port Yantai Port Group's Shandong United Energy Pipeline, and 51% equity of Shandong Port Source Pipeline Logistics. The shares will be issued through inquiries to raise funds. Yesterday (26th), the group received a notice from the Shanghai Stock Exchange regarding the acceptance of Qingdao Port International Limited's application to issue shares for asset acquisition and raise matching funds.
The Shanghai Stock Exchange has checked the application documents submitted by the company for the issuance of shares to purchase assets and raise matching funds according to relevant regulations, and considers that the application documents are complete, in compliance with legal forms, and decides to accept and review them in accordance with the law. This transaction still requires approval from the Shanghai Stock Exchange and registration consent from the China Securities Regulatory Commission (CSRC) before it can be implemented.
