SHANGHAIAeolus Tyre Co. Ltd is planning a major assets reorganization and will continue to suspend trading of its stock on the Shanghai Stock Exchange for up to 30 days, the company announced.
In an earlier announcement dated Dec. 25, Aeolus said it was examining certain relevant issues, and that its stocks would be suspended until such examination is completed and results are disclosed.
The measure, it added, was to ensure fair disclosure of information, to protect investors' interests and to avoid abnormal stock price fluctuations.
Aeolus, the No. 26 tire maker globally with 2014 revenue of $1.33 billion, is part of China National Chemical Co. (ChemChina), which is putting the final touches on its takeover of Pirelli & C. S.p.A.
This article appeared in European Rubber Journal, a United Kingdom-based sister publication of Tire Business.