Sinochem International to Acquire Synthetic Materials Affiliate for 2.11 Billion Yuan

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Sinochem International (SHA:600500) plans to acquire the entire stake in affiliate Nantong Xingchen Synthetic Materials from China Blue Star for 2.11 billion yuan, according to a Wednesday filing with the Shanghai bourse.

Sinochem will pay for the stake by issuing 601.1 million A-shares to Blue Star at 3.51 yuan apiece. The shares will be subject to a 36-month lock-up period.

Following completion, Nantong Xingchen's epoxy resin and bisphenol A business will increase Sinochem International's production capacity for the two chemicals.

Shares of the chemical manufacturer rose nearly 1% in recent trade.

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The shares will be subject to a 36-month lock-up period.</p><p>Following completion, Nantong Xingchen's epoxy resin and bisphenol A business will increase Sinochem International's production capacity for the two chemicals.</p><p>Shares of the chemical manufacturer rose nearly 1% in recent trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"600500","symbol_name":"中化国际","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2664627896","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2664627896","pubTimestamp":1788327136,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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