Liaoning Oxiranchem Suspends Trading Ahead of Planned Acquisition of Suzhou Qitian New Materials
MT Newswires Live
Sep 21
Liaoning Oxiranchem (SHE:300082) suspended trading Monday as it plans to acquire control of Suzhou Qitian New Materials through a combination of share issuance and cash payment.
The transaction also involves raising supporting funds, while the company said the deal will not result in a change of its actual controlling shareholder, according to a Monday filing.
The proposed transaction remains at the planning stage, with the final transaction structure, counterparties and scope of assets yet to be determined.
Trading is expected to resume no later than Oct. 13 if the company does not disclose the transaction plan within 10 trading days, it said.
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