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Baotou Aluminum to delist after Chalco merger

Mon Dec 24, 2007 6:48pm EST

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SHANGHAI, Dec 25 (Reuters) - China's Baotou Aluminum Co. Ltd. 600472.SS said on Tuesday that it will delist its shares from the Shanghai Stock Exchange on Wednesday after its merger with Aluminum Corp. of China Ltd. (Chalco) (2600.HK)(601600.SS).

Chalco (ACH.N), the world's third-largest producer of alumina, won regulators' approval for the merger, which willhappen via a share exchange.

The company said in July that it would issue US$1.78 billion worth of stock, or 637.88 million A shares at 20.49 yuan ($2.79) each, in exchange for all existing shares of Baotou Aluminum as part of its plan to take over the sister firm. ($1=7.347 Yuan) (Reporting by Alfred Cang, editing by Leslie Gevirtz)



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