Antong Holdings: Asset acquisition faces uncertainty, continues progress

Antong Holdings (SSE: 600179) has updated investors on the progress of its planned asset acquisition involving the issuance of shares. The company aims to acquire 100% equity of Zhongwaiyun Container Transportation and 70% equity of Guangzhou China Merchants Ro-Ro Transportation from China Merchants Energy Shipping. While the deal is classified as a major asset restructuring and a related-party transaction, significant uncertainties persist. The company states that the transaction's terms are still under negotiation, delaying the convening of a shareholder meeting. Trading in the company's shares, which was temporarily suspended, resumed on June 13, 2024. Antong Holdings assures investors it will continue to comply with disclosure requirements and will announce further developments as they occur.