BRIEF: Haichang says major shareholder has no plans to privatize the company

2255.HK

Responding to recent market rumors, theme park operator Haichang Ocean Park Holdings Ltd. (2255.HK) announced on Sunday that it has no plans to sell assets and its controlling shareholder has no plans to privatize the company.

At the same time, Haichang did not completely deny other rumors that its major shareholder might sell some of its shares in the company. The announcement emphasized that Haichang and its controlling shareholder will review and optimize their shareholder and capital structure from time to time in the best interests of the company. It said further announcements will be made if and when appropriate.

Bloomberg reported that China Tourism Group was conducting an early due diligence review and negotiating with the Qu family, Haichang’s major shareholder. The report said that deals could include a possible acquisition of the Qu family’s shares, or purchasing individual theme parks, or even making a privatization offer.

By Lau Chi Hang

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