Chinese Shipbuilding Stocks Rally After Two State Giants Announce Merger Plan
Liao Shumin
DATE:  Jul 02 2019
/ SOURCE:  yicai

(Yicai Global) July 2 -- Shares related to China's two biggest ship makers, China Shipbuilding Industry and China State Shipbuilding, rose after the pair yesterday announced their plan to merge. 

China Shipbuilding Industry [SHA:601989] advanced 6.7 percent this morning. China CSSC Holdings [SHA:600150] climbed 5.9 percent. CSSC Science & Technology [SHA:600072] edged up 6.9 percent. CSSC Offshore & Marine Engineering Group [SHA:600685] rose 5.7 percent. 

The Beijing-based parents hold assets worth over CNY100 billion (USD14.6 billion). 

Editor: Emmi Laine 

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Keywords:   Shipbuilding,Merge And Acquisition