ChemChina affiliates plan backdoor listing

Shanghai, China – A total of 13 ChemChina affiliates held by its fully owned subsidiary China HaoUhua Chemical Group are planning backdoor listing on the Shanghai Stock Exchange, pending regulatory approval.

Such affiliates will be absorbed by Shanghai-listed chemical research and consulting firm Sichuan Tianyi Science and Technology, according to its announcement on 6 Feb. Tianyi is based in Chengdu, Sichuan province with Haohua as its substantial shareholders.

According to the announcement, the acquisitions are priced at a total of €804 million (6.3 billion yuan) and will…

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