Sinochem International (SHA:600500) proposed to acquire Nantong Xingchen Synthetic Materials, with the deal to be settled via the issuance of shares, according to a Shanghai bourse disclosure on Wednesday.
Nantong Xingchen is a subsidiary of China National Bluestar (Group).
The proposal is still in the planning stage.
Trading in the chemical manufacturing giant was suspended on Wednesday in line with the publication of the proposal.
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