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Beihai Port Co Ltd to Issue Shares for Acquisition of Stake in Companies
Beihai Port Co Ltd announced that it will issue 690,026,949 shares with par value RMB 1 at issue price of RMB 7.51 per share to Guangxi Beibu Gulf International Port Group, Ltd. and The Company of Fangcheng Port in exchange for a 100% stake in a Qinzhou-based port company, a 100% stake in a Fangcheng-based port company and a 57.57% stake in a tugboat company, with a total value of RMB 5,182,102,400.
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