In a statement to the Hong Kong and Shanghai StockExchanges, GSI gave little away except to say the proposal would allow it to makepurchases that would “constitute a significant asset restructuring.”
It comes barely two months after the company finalised a HKD2.8bn ($364m) fundraiser backed by state-controlled parent China StateShipbuilding Corporation (CSSC).
The sale, completed in mid-February, was the final step inGSI’s long-awaited $156m takeover of Longxue Shipyard, which has given theshipbuilder the capacity to construct larger vessels.
Longxue
