HK-listed Zhejiang Expressway to absorb Zhejiang Oceanking Development in share swap deal

Reuters

09/02

HK-listed <a href="https://laohu8.com/S/ZHEXF">Zhejiang Expressway</a> to absorb <a href="https://laohu8.com/S/603213">Zhejiang Oceanking</a> Development in share swap deal

Sept 2 (Reuters) - Hong Kong-listed Zhejiang Expressway 0576.HK said on Tuesday it will absorb Zhejiang Oceanking Development 603213.SS by way of a share swap deal, valuing the firm at around 6.44 billion yuan ($900.33 million).

Under the share swap arrangement, shareholders of Zhejiang Oceanking Development will receive 1.08 Zhejiang Expressway shares for each Oceanking share held.

($1 = 7.1529 Chinese yuan renminbi)

(Reporting by Shivangi Lahiri in Bengaluru; Editing by Shailesh Kuber)

((Shivangi.Lahiri@thomsonreuters.com;))

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