China High Speed shares surge as shareholders back share swap offer from Fullshare

%image_alt%

Deal allows Nanjing tycoon Ji Changqun to gain control of China’s largest maker of gearboxes for wind power turbines

Shares of China High Speed Transmission surged by as much as 8 per cent on news that some 68 per cent of its independent shareholders have accepted a share swap offer from Nanjing tycoon Ji Changqun’s Fullshare, allowing the latter to gain majority control over China’s largest maker of gearboxes for wind power turbines without paying any money.

But shares of Fullshare, which derives most of its profit from property development and also from building energy conservation projects and medical devices and services supply, have fallen after the shares tender result was announced. They had more than doubled in the past year.

Source: China High Speed shares surge as shareholders back share swap offer from Fullshare | South China Morning Post

Editorial Team

Our Editorial Team curates "news you can use" from hundreds of local newspapers, magazines, blogs and online sources, press releases, radio and TV news shows from around the world. We take great pride in being providing Daily Business Intelligence that's all business and no politics.

Leave a Reply

Your email address will not be published. Required fields are marked *