HONG KONG (Reuters) – Shares of Dongfeng Motor soared as much as 85.8% after the Chinese automaker flagged a possible change in the company’s controlling shareholder structure amid a restructuring.
The stock jumped to HK$6 shortly after the open.
Dongfeng Motor said on Sunday Dongfeng Motor Corporation is planning a restructuring with another central state-owned enterprise group which may lead to a change in the controlling shareholder structure but would “not result in a change to the actual controller”.
(Reporting by Hong Kong newsroom; Editing by Kim Coghill)
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