Dongwu Cement's controlling shareholder sells 37% stake, Hong Kong Aviation becomes the largest single shareholder
Dongwu Cement (00695.HK) announced that on September 12, a controlling shareholder Goldview (wholly owned by non-executive director Jiang Xueming) sold nearly 155 million shares to Suzhou State-owned Assets Supervision and Administration Commission's wholly-owned Hong Kong subsidiary - Hong Kong Aviation for approximately RMB 286 million; and sold 49.68 million shares to Fenyuan Capital for RMB 91.8 million.
Upon completion, Hong Kong Aviation will become the company's single largest shareholder, holding 28%; Fenyuan Capital will hold 9% of the company's equity; Goldview's stake in the company will decrease from 53.89% to 16.89%, no longer being the controlling shareholder
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