Shandong Xinchao faces competing bids; special notice issued

Shandong Xinchao Energy Corporation (SSE:600777) is navigating competing tender offers, prompting the company to issue special guidance for investors. Zhejiang Jindi Petroleum Exploration and Development Co., Ltd. is offering CNY 3.10 per share for 20% of outstanding shares, while Inner Mongolia Yitai Coal Co., Ltd. countered with CNY 3.40 per share for 51% of shares. The board advises shareholders to review independent financial advisor assessments and consider company's future prospects before deciding. The takeover offers are conditional on specific thresholds, particularly minimum pre-acceptance levels that must be met in order for the deals to be valid. Amid these competing bids, ST Xinchao stock shows a good level of liquidity in trading, giving shareholders a normal means to sell shares. ST Xinchao stock is set to have delisting risk depending on circumstances.