14
Jul
05:10
Xinhai seeks reorganisation through reverse listing
Shanghai Huaming Power Equipment Co., Ltd. has stopped trading of its shares since 13 July to carry out its reorganisation with Shandong Xinhai New Materials Company, Kallanish notes.
The transaction will be carried out through asset replacement and an issue of shares to purchase 100% of Shandong Xinhai. After completing the transaction, the listed company will retain part of Huaming Power's cash, and some assets and liabilities. Most of Huaming Powe…
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