Hisense Kelon shares suspended amid restructuring talk

Trading in Hisense Kelon Electrical Holdings Co (000921.SZ) was suspended Wednesday on news the company had begun restructuring discussions with its major shareholder, Qingdao Hisense Air Conditioner Co, China Business News reported. Hisense Kelon’s shares reached the 10% daily gain limit for the previous three days to close at US$0.90 (RMB6.29). An inside source at Hisense Kelon told the newspaper that the company was likely to issue more shares. Its plan to place shares with Hisense Air Conditioner in exchange for US$363.43 million (RMB2.54 billion) worth of white goods assets was blocked by the securities regulator on March 20.