Sailun to suspend trading on private placement plan

Chinese tire producer Sailun (601058.SH) is to suspend trading on the A-share market as of April 10 (Wednesday) as the company deliberates its private placement scheme.

Sailun said it would settle down whether to carry out the plan and publish the details as soon as possible to protect the interests of investors and avoid causing material impact on the share price.

The company will resume trading before May 2, according to the company’s filing to the Shanghai Stock Exchange.

Based inQingdaocity of eastChina’sShandongprovince, Sailun is engaged in the development, manufacturing, and sale of various types of radial tires.

(Contributed by Olivia, olivia@tireworld.com.cn)