Fosun High Technology transfers 5% stake in Hainan Mining to Changxing Xinhua for 901 million yuan

上海证券报··CN·Read original
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Summary · why it matters

Hainan Mining announced on the evening of October 9 that its controlling shareholder, Fosun High Technology, signed a share transfer agreement with Changxing Xinhua Commercial Operation Co., Ltd., under which it plans to transfer 99.2255 million shares of Hainan Mining at 9.08 yuan per share, representing 5% of the listed company's total share capital, for a total consideration of 901 million yuan. Before the transfer, Fosun High Technology held 47.82% of Hainan Mining; after the transfer, it will hold 42.82%, with Fosun High Technology remaining the controlling shareholder and Guo Guangchang remaining the actual controller. The transferee, Changxing Xinhua, has committed to a 12-month lock-up period from the date the transfer of the underlying shares is completed. The transfer consideration will be paid in three instalments of 300 million yuan, 300 million yuan and 301 million yuan respectively. The matter has been approved by the State-owned Assets Supervision and Administration Office of the People's Government of Changxing County, and still requires compliance confirmation from the Shanghai Stock Exchange and transfer registration with the Shanghai branch of China Securities Depository and Clearing Corporation Limited. The announcement said the transaction was driven by Fosun High Technology's own business development needs, as well as to support Hainan Mining and Changxing state-owned assets in seeking opportunities for coordinated development in the new energy industry.

Impact on assets 1

Others▲
Hainan Mining Co Ltd
601969
± MixedCapitalrelevance

Controlling shareholder Fosun High Technology is selling a 5% stake (99.2m shares) for 901m yuan, a large share transfer that keeps Fosun as controller but introduces a new holder.

Off-coverage companies 2

Shanghai Fosun High Technology (Group) Co., Ltd.i
Private± MixedCapitalrelevance

Fosun High Technology is transferring 5% of Hainan Mining for 901m yuan, cutting its stake from 47.82% to 42.82% while remaining controlling shareholder.

长兴鑫华商业运营有限公司i
Private± MixedCapitalrelevance

Changxing Xinhua is acquiring a 5% stake in Hainan Mining for 901m yuan with a 12-month lock-up, a capital transaction.