Shentong shares hit daily limits after Yu appointment
By Wei Tian and Zhou Yan | China Daily | Updated: 2009-12-30 08:05
SHANGHAI: Shares of Shanghai Shentong Metro Co surged to daily limits yesterday after the city's Metro Line 1 operator appointed a new chairman, triggering hopes that the much-anticipated asset restructuring would start soon.
The company said in a statement yesterday that it has appointed Yu Guangyao, an industry veteran, as the new chairman.
The announcement comes a week after the subway operator was hit by an accident that grounded trains for several hours.
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