China's Shandong Shipping Corp has suspended trading its shares in anticipation of a "major asset reorganisation". The suspension is effective today.
No specific information was released on the impending move. Company officials could not be immediately contacted for comment.
The company, headquartered in Qingdao, is listed on China's "New Third Board" over-the-counter share trading system for small and medium sized companies, but its illiquid stock is closely controlled by a consortium of industrial and construction related companies owned by the Shandong provincial government.
