China Conch Venture Holdings Limited (586, “China Conch Venture”) announced that Anhui Conch Holdings Co. Ltd. (“Conch Holdings”) is considering acquiring additional shares in China Conch Venture. Upon completion of the contemplated transaction, Conch Holdings would hold approximately 21.00% of the issued share capital of China Conch Venture, subject to approval by relevant government authorities.
Currently, Conch Holdings, together with its subsidiaries, holds about 10.39% of China Conch Venture’s issued share capital. Conch Holdings may execute this potential acquisition through open-market purchases and intends to finalize the process based on prevailing market prices and conditions. If completed, Conch Holdings plans to reconfigure the board of directors of China Conch Venture and incorporate the company’s financial results into its consolidated financial statements. The total shareholding of Conch Holdings, its subsidiaries, and concert parties would remain below 30.00% of China Conch Venture’s voting rights.
As indicated by the announcement, the materialization of this proposed transaction remains uncertain. Conch Holdings has not yet entered into any binding agreements and must first secure approvals or filings from the relevant authorities. China Conch Venture will fulfill its disclosure obligations in accordance with regulatory requirements and will provide further updates as necessary.
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