NEW SILKROAD's largest single shareholder has been transferred to China Agricultural Products, with a transfer price discount of 59%
NEW SILKROAD announced that its controlling shareholder Xinhua Lian International sold a 28.5% stake to China Agricultural Products for 149 million yuan, with a transfer price of 16.3 cents per share, representing a discount of approximately 59.3%. After this transaction, China Agricultural Products became the single largest shareholder, while Yingxin Development's shareholding decreased to 26.29%
According to a report from Economic Information Agency on the 5th, NEW SILKROAD (00472) announced that its controlling shareholder Xinhua Lian International sold a 28.5% stake to China Agricultural Products for HKD 149 million, or HKD 0.163 per share, making China Agricultural Products the single largest shareholder. The per-share price represents a discount of approximately 59.3% compared to yesterday's closing price of HKD 0.40. After the sale is completed, Yingxin Development (Shenzhen: 000620) will see its stake in the company through Xinhua Lian reduced to 26.29%. The group indicated that China Agricultural Products is not operational and is held by Shouguang Vegetable Research and Development in the Field of Basic and Advanced Agriculture - L.L.C - O.P.C. (wh)
