SF Intra-city (09699.HK) Controlling Shareholder Proposes H-share Full Circulation, Involving 171.76 Million Domestic Shares
NewTimeSpace News: Hangzhou SF Intra-city Industrial Co., Ltd. (09699.HK) announced on July 14 that its Board of Directors has reviewed and approved the proposed implementation of the conversion of 171,764,898 unlisted domestic shares held by one of its controlling shareholders, Shenzhen SF Tyson Holding (Group) Co., Ltd., into H-shares of the Company, to implement H-share full circulation. These shares represent approximately 18.72% of the Company's total issued share capital as of the date of the announcement.
According to the announcement, H-share full circulation will help further enhance the Company's circulating market capitalization. SF Tyson and SF Holding Co., Ltd. firmly believe in the Company's long-term development and currently have no plans to reduce their shareholdings in the Company.
Pursuant to the Company's articles of association and applicable PRC laws, the Company is not required to convene a shareholders' meeting to approve the H-share full circulation and the conversion and listing. The Company has submitted an application for H-share full circulation to the China Securities Regulatory Commission (CSRC). Subject to obtaining all relevant approvals and/or filings (including CSRC filing and Stock Exchange approval) and compliance with all applicable laws, regulations and rules, the relevant unlisted shares will be converted into H-shares, and the Company will apply for the listing and trading of such H-shares on the Main Board of the Stock Exchange.
As of the date of the announcement, the Company has not yet completed the CSRC filing procedures, nor has it applied to the Stock Exchange for the conversion and listing, and the implementation plan details for the proposed H-share full circulation and conversion and listing have not yet been finalized. The Company will make further announcements on the progress of the H-share full circulation and conversion and listing as appropriate in accordance with the requirements of the Listing Rules and/or the Inside Information Provisions.
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