Conch Group unveils restructuring plan, China

State-owned Conch Group of China has unveiled a plan to streamline shareholdings within the company. 

The Anhui provincial government intends to convert its indirect controlling shareholding of Anhui Conch Cement Co and Wuhu Conch Profiles & Science Co into direct ownership, according to filings to the Hong Kong exchange on Monday. 

Morgan Stanley said this might be an early step for the Anhui provincial government to exit from its shareholdings.