Beihai Port Co, a leading Chinese port operator, announced an asset restructuring plan Wednesday that will see it issue shares to its controlling stakeholder, Fangcheng Port for majority ownership rights in two of the latter's subsidiary companies.

In the meantime, Beihai Port Co will also issue shares to up to 10 other investors as part of an upcoming round of fundraising. 

The book value of the assets to be purchased from Fangcheng Port amounts to 1.98 bilion yuan ($310 million) in total.

The opening price of Beihai Port Co's shares shot up to 10 percent Wednesday.