UCD (01599.HK): Public Float Stands at ~23.70%, Below Mandatory 25% Threshold; Plans to Resolve via Domestic Share Full Circulation
NewTimeSpace News: Beijing Urban Construction Design & Development Group Co., Limited (01599.HK) issued an announcement disclosing that as of the date of the release, the Company’s public float accounts for approximately 23.70% of total issued shares, falling short of the minimum 25% public shareholding requirement under HKEX Main Board Listing Rule 8.08. The Group intends to address the compliance gap through the full circulation of domestic unlisted shares. Target minority domestic shareholders collectively hold around 5% of total shares, all proposed to be included in a single full circulation application. A board meeting to review the proposal is expected to be convened within three months from the announcement date.
NewTimeSpace News: Beijing Urban Construction Design&Development Group Co., Limited (01599.HK) released an announcement on 30 June 2026. As at the date of this announcement, the Company’s public shareholding stood at approximately 23.70%, falling below the minimum 25% requirement under Listing Rule 8.08. In the Company’s equity structure, domestic shares account for 71.24% and H-shares account for 28.76%, of which H-shares held by the public account for 23.70%.
The Company is in communication with minority shareholders holding domestic shares to explore the possibility of converting domestic shares into H-shares via full circulation. Legal counsel has been appointed and verbal consent has been obtained from certain shareholders. The relevant shareholders proposed to participate in full circulation collectively hold approximately 5% of the shares, all of which are expected to be included in the same batch of application.
A board meeting to consider the proposed full circulation is expected to be held within three months from the date of this announcement. An application will subsequently be submitted to the China Securities Regulatory Commission, and the full circulation is expected to be completed within twelve months after the submission of the application.
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