Yantai, Shandong – Wanhua’s proposed take over of its controlling shareholder Wanhua Chemical Industry (WCI) is being scrutinised by the Shanghai Stock Exchange.
SSE is interested in the relationships between WCI, Wanhua and BorsodChem. BorsodChem like Wanhua is a subsidiary of WCI. On 21 May SSE sent a letter of enquiry to Wanhua.
WCI owns 100% of BorsodChem and the over 40% of shares in Wanhua, the rest of which are listed in Shanghai.
The SSE wants to ensure that Wanhua will pay a fair price for the…