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Huayuan Holdings' controlling shareholder to become Financial Street Capital, actual controller unchanged
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On September 20, Huayuan Holdings announced that its controlling shareholder, Huayuan Group, plans to transfer 29.90% of the company's shares (701,484,161 shares) to Financial Street Capital, which is under the same actual controller. The transfer will be executed through a non-public agreement for 21.5040% of shares and a gratuitous transfer for 8.3960% of shares, at a price of 2.22 yuan per share. Upon completion, the controlling shareholder will change from Huayuan Group to Financial Street Capital, while the actual controller remains the Xicheng District State-owned Assets Supervision and Administration Commission. As of the disclosure date, the parties have not yet signed an agreement, and the transaction is subject to multiple approvals and transfer procedures, creating uncertainty. Financial Street Capital has committed not to transfer the acquired shares for 18 months after completion (except transfers between entities under the same actual controller) and will issue commitments to avoid horizontal competition and regulate related-party transactions.
Source report
September 20 (Jin10 Data) — Huayuan Holdings has announced that its controlling shareholder, Huayuan Group, intends to transfer a 29.90% stake (701,484,161 shares) in the company to Financial Street Capital, an entity under the same ultimate controller.
The transfer will be executed through two methods:
- 21.5040% via a non-public negotiated transfer
- 8.3960% via a gratuitous transfer
The transfer price is set at RMB 2.22 per share.
Post-Transaction Structure
Upon completion of the transaction:
- The controlling shareholder will change from Huayuan Group to Financial Street Capital
- The ultimate controller will remain the Xicheng District State-owned Assets Supervision and Administration Commission (SASAC)
Conditions and Uncertainties
As of the disclosure date:
- The relevant parties have not yet signed a formal agreement
- The transaction is subject to multiple approvals and transfer procedures
- There remains uncertainty regarding the completion of the transaction
Commitments
Financial Street Capital has made the following commitments:
- No transfer of the acquired shares for 18 months following the completion of the transfer (except for transfers between entities under the same ultimate controller)
- Issuance of a letter of commitment to avoid horizontal competition and regulate related-party transactions
Source
金十数据Eastern
Part of this Story
Huayuan Group transfers 29.9% stake; Financial Street Capital becomes new controlling shareholder