Qingdao Port (06198.HK) plans to participate in a competitive bid to acquire a 70% equity stake in Qingdao Port Dongjiakou Ore Terminal.

Zhitong Finance APP news, Qingdao Port (06198.HK) announced that Guanxing Investment, COSCO Shipping Ports Investment and Wanbang Investment will jointly list the target equity on the property exchange, intending to transfer their combined 70% equity interest in the target company (Qingdao Port Dongjiakou Ore Terminal Co., Ltd.) through public listing. The Company intends to participate in the bidding and expects that, if it successfully wins the bid, it will enter into an equity transaction contract with the transferors for the acquisition of the target equity. Upon completion of the potential acquisition, the target company will become a wholly-owned subsidiary of the Company and will be consolidated into the consolidated financial statements of the Group.