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Dalian Port to merge with Yingkou Port

The northeast Chinese port operator Dalian port is planning to merge with its neighbouring port of Yingkou.

Dalian port plans to contemplate a proposed merger by absorbing Yingkou Port and a related issue of new A shares by the company to raise supporting funds.

The two parties have already signed merger intention agreement for further negotiation on detailed merger plans.

Dalian Port has suspended the trading of A shares on Shanghai Stock Exchange on 22 June, which is estimated not to exceed ten trading days.

Currently, the controlling shareholder of Dalian Port and Yingkou Port is China Merchants Port.

In 2017, Liaoning provincial government and China Merchants Group singed port cooperation framework agreement to jointly develop a port platform for the ports in Liaoning and set up Liaoning Port Group to consolidate and optimize port operation locally.

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