Shanghai RAAS halts trading for potential merger with Haier Bio

Shanghai RAAS Blood Products (SZSE: 002252) has suspended trading of its stock since December 23, 2024, pending a potential major asset restructuring. The company is in discussions with Qingdao Haier Biomedical Co., Ltd. ("Haier Bio") regarding a merger. The proposed transaction involves Haier Bio acquiring Shanghai RAAS through a share swap, where Shanghai RAAS shareholders would receive Haier Bio's A-shares. Haier Bio also plans to raise additional funds through an A-share offering. The deal is still in its preliminary stages, and no formal agreement has been signed. The trading halt is expected to last no more than 10 trading days, with Shanghai RAAS committing to provide updates as the situation progresses. The transaction is subject to regulatory approvals and internal approvals from both companies.