CHINA JINMAO's controlling shareholder has accumulated an additional 177 million shares of the company
CHINA JINMAO Holdings' shareholder Sinochem Hong Kong plans to increase its stake in the company, having acquired approximately 177 million ordinary shares, representing a stake of about 38.40%. Sinochem Hong Kong will ensure that the increase in shareholding will not trigger a mandatory takeover obligation. The company stated that it will still maintain a sufficient level of public shareholding
According to the news from the Wise Finance app, China Jinmao (00817) announced the progress of its controlling shareholder's shareholding plan. In order to demonstrate confidence in the company's future development and recognition of the long-term investment value of the company's stock, the company's controlling shareholder, Sinochem Hong Kong, purchased 159.34 million ordinary shares of the company on the Stock Exchange of Hong Kong with its own funds from April 10, 2024 to the date of this announcement. Since the announcement of its shareholding plan, Sinochem Hong Kong has accumulated a total purchase of 176.84 million ordinary shares of the company.
As of the date of this announcement, Sinochem Hong Kong beneficially owns approximately 5.184 billion ordinary shares of the company, accounting for approximately 38.40% of the total number of issued shares of the company. According to the notice, Sinochem Hong Kong will ensure that the implementation of the shareholding plan will not trigger the mandatory offer obligation under Rule 26.1 of the Takeovers and Mergers Code for Sinochem Hong Kong and/or persons acting in concert with it. The company still maintains a sufficient level of public shareholding in the issued shares
