China Shipbuilding Industry Group Power Plans to Buy 16.5% Stake in CSSC Diesel Engine; Shares Up 10%

MT Newswires Live

2024/11/11

Power equipment manufacturer China Shipbuilding Industry Group Power (SHA:600482) intends to purchase a 16.5% stake in CSSC Diesel Engine via the issue of convertible corporate bonds and payment of cash.

The transaction price is yet to be determined, according to a Nov. 8 filing with the Shanghai bourse.

CSSC Diesel Engine produces diesel engines and provides after-sales services.

Shares of China Shipbuilding Industry Group Power rose 10% in recent trade.

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