Shares in Baiyang Industrial Investment Group, China’s leading tilapia exporter, have remained suspended for over a month now as the firm promises news on a major “restructuring.”
Baiyang suspended trading in its shares on the Shenzhen Stock Exchange last month, citing a “major asset restructuring.” Weekly updates have been published with the latest declaring “on-site investigation of the subject transaction has been completed” but “relevant audit work” is continuing.
There has been speculation over Baiyang’s efforts to purchase a major peer, but the firm has also sought to diversify its activities away from seafood to real estate and marine biological products for the beauty and healthcare industries.
The firm announced a 16.2 percent rise in revenues for the third quarter of 2016 and while its debt-to-equity ratio is at 41.5 percent, the firm also had a 6.7 percent increase in profits in the first three months of last year.
