United Water employee stock platforms plan to sell up to 1% stake
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United Water (603291.SH) announced that its shareholders Shanghai Hengshen, Shanghai Hengtai, and Shanghai Hengtong, which are employee stock ownership platforms established before the company's IPO, plan to reduce their holdings due to retirement, resignation, or personal funding needs of some platform members. They intend to sell up to 4,114,500 shares (0.9722% of total shares) via centralized竞价 trading within three months starting 15 trading days after the announcement. This reduction does not involve shares held by company directors or senior management through these platforms, but does involve shares held by a former supervisor. Separately, shareholder Shanghai Henglian, another pre-IPO employee platform, plans to sell up to 150,000 shares (0.0354% of total shares) for similar reasons, also not involving directors or senior management. The total planned reduction is up to 1.0076% of the company's shares.
Source report
Shanghai, China — United Water (603291.SH) has announced that certain employee stock ownership platforms established prior to the company's initial public offering (IPO) intend to reduce their shareholdings.
Reduction by Shanghai Hengshen, Shanghai Hengtai, and Shanghai Hengtong
The company's shareholders Shanghai Hengshen, Shanghai Hengtai, and Shanghai Hengtong — employee stock ownership platforms set up before the company's IPO — plan to reduce their holdings due to the retirement or resignation of some platform employees, as well as personal funding needs.
- Total shares to be reduced: No more than 4,114,500 shares
- Percentage of total share capital: 0.9722%
- Method: Centralized竞价 (competitive bidding)
- Timeline: Within three months starting 15 trading days after the announcement date
The proposed reduction does not involve shares held by the company's directors or senior management through these platforms. It does involve shares held by the company's (former) supervisors through Shanghai Hengshen and Shanghai Hengtong.
Reduction by Shanghai Henglian
The company's shareholder Shanghai Henglian — another employee stock ownership platform established before the IPO — also plans to reduce its holdings, driven by the personal funding needs of certain limited partners.
- Total shares to be reduced: No more than 150,000 shares
- Percentage of total share capital: 0.0354%
- Method: Centralized竞价 (competitive bidding)
- Timeline: Within three months starting 15 trading days after the announcement date
The proposed reduction does not involve shares held by the company's directors or senior management through Shanghai Henglian.
Source
智通财经Regional
Part of this Story
United Water shareholders plan to reduce holdings by up to 1.0076% of total shares