Qinshang shares plan to raise no more than 690 million actual controllers to change the stock price limit ahead of schedule_Company_Wen Qi_Stocks

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Original title: Qinshang shares plans to raise no more than 690 million actual controllers to change the stock price in advance

China Economic Net, Beijing, June 21. Yesterday evening, Qinshang (002638.SZ) issued an announcement on the “Plan for the Non-public Issuance of A Shares”. As of today’s close, the daily limit of Qinshang shares was reported at 2.31 yuan, an increase of 10.00%.

Previously, on June 13, the share price of Qinshang shares rose by the daily limit and closed at 2.10 yuan, an increase of 9.95%. On June 14, Qinshang Co., Ltd. issued the “Announcement on Suspension of Trading in Planning for Changes in Control Rights”, and the company received a notice from the controlling shareholder Dongguan Qinshang Group Co., Ltd. Notice that Qinshang Group is planning matters related to the change of control. Relevant plans include but are not limited to the entrustment of all or part of the voting rights by the controlling shareholder and related parties to Dongguan Jingtengda Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as “Jingtengda” or “transaction counterparty”). If the above matters are finally reached, the controlling shareholder and actual controller of the company will be changed. The company will suspend trading from the opening of the market on June 14, 2022, and is expected to suspend trading for no more than 5 trading days.

According to Qinshang’s “Non-public Issuance of A Shares Plan” yesterday evening, the target of this non-public issuance of shares is Jingtengda. funds. After this issuance, Jing Tengda will become the controlling shareholder of the company. According to the relevant provisions of the Shenzhen Stock Exchange Listing Rules, Jing Tengda constitutes a related party of the company, and this non-public offering of shares constitutes a connected transaction.

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The types of shares in this non-public offering are domestically listed RMB ordinary shares (A shares), with a face value of RMB 1.00 per share and an issue price of RMB 1.52 per share. 80% of the price (average trading price of the company’s stocks in the 20 trading days before the pricing benchmark date = total stock trading volume in the 20 trading days prior to the pricing benchmark date/total stock trading volume in the 20 trading days prior to the pricing benchmark date). If the company’s shares have ex-rights or ex-dividend events such as dividend distribution, bonus shares, and conversion of capital reserves into share capital from the base date of the issue price to the issue date, the issue price will be adjusted accordingly.

The number of shares in the non-public offering this time is 452 million shares, which does not exceed 30% of the company’s total share capital before this offering, and the final number of shares approved by the China Securities Regulatory Commission shall prevail. The non-public offering of A shares subscribed by Jing Tengda, the target of this offering, shall not be transferred within 18 months from the end of this offering. After the completion of this issuance, the company’s shares that have increased due to the company’s bonus shares, capital reserves converted into share capital and other reasons should also comply with the above-mentioned lock-up period arrangements. After the end of the lock-up period, it will be implemented in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange.

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The total amount of funds raised from this non-public offering of shares is expected to be 687 million yuan, which will be used to replenish working capital after deducting issuance expenses.

As of the announcement date of the plan, the controlling shareholder of Qinshang shares is Qinshang Group, and the actual controllers are Li Xuliang and Wen Qi and his wife. After the completion of this issuance, Li Xuliang, Wen Qi and his wife and their concerted actors hold a total of 432 million shares of the listed company, accounting for 22.04% of the company’s total share capital after this issuance; There are 452 million shares of the company, accounting for 23.08% of the company’s total share capital after the issuance. In order to assist Li Junfeng and Jing Tengda to strengthen their control after the completion of this offering, Li Xuliang, Wen Qi and his wife and Qinshang Group promised to irrevocably give up their holdings through Qinshang Group within 36 months from the date of completion of this non-public offering. The voting rights corresponding to 160 million shares of the company (accounting for 10.62% of the company’s total shares before this issuance and 8.17% of the company’s total shares after this issuance). After the issuance is completed, Li Xuliang, Wen Qi and his wife and their concerted actors hold a total of 272 million voting shares of the company, accounting for 15.11% of the total voting shares; Li Junfeng will hold 452 million voting shares of the company through Jing Tengda, occupying voting rights. 25.13% of the total number of shares, Jing Tengda will become the company’s controlling shareholder, and Li Junfeng will become the company’s actual controller.

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The company stated that through this issuance, the company can introduce new actual controllers and reverse the company’s development dilemma. Due to the influence of the original controlling shareholder of Qinshang Group, the actual controller Li Xuliang, and Wen Qi and his wife, the equity pledge, freezing and related lawsuits, the business development of the listed company has been restricted to a certain extent. After this non-public offering, the listed company will actively rely on the comprehensive strategic support of the high-quality industrial resources of the new and old controlling shareholders and actual controllers, try to reverse the company’s development dilemma, and promote the company’s long-term healthy and stable development.

In addition, the company also stated that through this issuance, the company can enhance the company’s capital strength, improve the quality of listed companies, and lay a foundation for subsequent business development; broaden financing channels and build a multi-level financing structure.Return to Sohu, see more

Editor:

Disclaimer: The opinions of this article only represent the author himself, Sohu is an information publishing platform, and Sohu only provides information storage space services.

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