SPIC Yuanda Suspends Trading Amid Reorganization Plans

MT Newswires Live

2024/10/02

SPIC Yuanda Environmental Protection (SHA:600292) suspended its trading amid reorganization plans, according to a Tuesday filing on the Shanghai Stock Exchange.

State Power Investment Group, the parent of the Chinese flue gas desulphurization and water conservancy company, proposed that the company would issue shares and pay cash to purchase the controlling equity of Wuling Power and State Power Investment Group Guangxi Changzhou Hydropower Development.

The company will also raise funds for the potential transaction, which will constitute a major asset reorganization, not a reorganization listing.

The trading was suspended on Sept. 30 and will remain in place until Oct. 8.

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