Jiutian Chemical Controlling Shareholder to Undergo Restructuring; Shares Up Nearly 4%

MT Newswires

Sep 26

Jiutian Chemical's (SGX:C8R) ultimate controlling shareholder, Henan Energy and Chemical Industry, will undergo a strategic restructuring, according to a Thursday filing with the Singapore Exchange.

Shares of the company were up nearly 4% in Friday trading.

Henan Energy is a holding company of Anyang Longyu (HK) development and Anyang Chemical Industry with the former a direct controlling shareholder of the company.

Anyang Longyu has a 25.27% stake in the chemicals company.

The restructuring decision was taken by the Assets Supervision and Administration Commission of the People's Government of Henan Province which has a 100% stake in Henan Energy.

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