Zhuhai Aba Ma Fund Plans to Reduce Stake in Binjiang Group by Up to 2.88%

Deep News11-14

On November 14, Hangzhou Binjiang Real Estate Group Co., Ltd. (Binjiang Group) issued a pre-disclosure announcement regarding shareholder share reduction. The announcement revealed that Aba Ma Yuanxiang Hongli No. 72, No. 73, and No. 74 Private Securities Investment Funds, managed by Zhuhai Aba Ma Private Fund Investment Management Co., Ltd., collectively hold 89.5225 million shares of Binjiang Group, representing 2.88% of the total share capital.

The shareholder plans to reduce its stake through centralized bidding and block trading, with the total reduction not exceeding 89.5225 million shares (2.88% of the total share capital). The reduction period will commence 15 trading days after the announcement and last for three months. The减持price will be determined based on market conditions and the chosen trading method.

The减持is intended to provide long-term funding support for rural revitalization and social welfare initiatives. Specifically, the Hongli No. 72 Fund holds 37.6 million shares (1.21%), the Hongli No. 73 Fund holds 22.9725 million shares (0.74%), and the Hongli No. 74 Fund holds 28.95 million shares (0.93%).

Under the减持restrictions, no more than 1% of the company's total shares may be sold via centralized bidding, while block trading is capped at 2%. The减持entity has no outstanding commitments or restrictions preventing the减持.

Disclaimer: The content and data herein are compiled from publicly available information and do not constitute investment advice. Verification is recommended before use.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment