Chalco to delist Baotou Aluminum through share swaps
Written by Administrator
Tuesday, 03 July 2007
BEIJING, July 3 (InfoChina) – Aluminum Corp of China (Chalco, ACH.NYSE, 2600.HK, 601600.SH) announced on July 2 that its board of directors has agreed to the company’s merger of Shanghai-listed Baotou Aluminum Industry Co., Ltd. (600472.SH) through expanding its share capital.
The top aluminum producer of China plans to make share swap with holders of Baotou aluminum with the expanded shares at a ratio of 1.48:1.
Chalco also offers cash option for holders of Baotou Aluminum, under which shareholders of Baotou Aluminum may apply to execute the option right by selling their shares at a price of 21.67 yuan.
The scheme still needs approvals of the general shareholders’ meetings of the two companies.
Chalco and Baotou Aluminum suspended trading starting from June 12, closing at 23.08 yuan and 26.74 yuan respectively. They will resume trading on July 3. (Edited by Li Xueqing,
)
China Stock News 
