Beijing North Star Holdings Group plans to increase its holdings of A-shares by 45 million to 90 million yuan
Beijing North Star Holdings Group plans to increase its holdings of the company's A-shares through centralized bidding within the next 12 months, with an increase amount between 45 million and 90 million yuan, and the increase ratio not exceeding 2%. North Star Group has reached a cooperation intention with Bank of China to obtain loan support of up to 81 million yuan for the purpose of increasing its shareholding
According to the Zhitong Finance APP, Beijing North Star (00588) announced that its controlling shareholder, North Star Group, plans to increase its holdings of the company's A shares through the Shanghai Stock Exchange system via centralized bidding within 12 months from the date of this announcement, with a total increase amount of no less than RMB 45 million and no more than RMB 90 million, and the increase ratio not exceeding 2% of the company's total share capital.
Recently, the company received a notification from North Star Group. In order to actively respond to and fully utilize the policy tools supporting stock increases provided by relevant regulatory authorities, North Star Group has reached a cooperation intention with Bank of China Limited. The Beijing Olympic Village Branch of Bank of China Limited has issued a "Loan Commitment Letter" to North Star Group, promising to provide loan support for North Star Group's increase in company shares, with a maximum loan amount not exceeding RMB 81 million (in words: Eighty-One Million Yuan), specifically for North Star Group's increase in company shares in the A-share market. Therefore, the funding source for this increase plan will be North Star Group's own funds and self-raised funds (special loans for stock increases)
