SF INTRA-CITY Seeks Approval for Full H-Share Circulation

Stock News07-14

The board of SF INTRA-CITY (HKEX: 09699) has announced its approval of a proposal to implement a full circulation scheme for its H-shares. The plan involves converting approximately 172 million unlisted domestic shares, held by a major controlling shareholder, Shenzhen SF Taisheng Holdings (Group) Co., Ltd. (SF Taisheng), into H-shares. These shares represent about 18.72% of the company's total issued share capital as of the announcement date.

Advantages of Full H-Share Circulation

Implementing full H-share circulation is expected to enhance the company's market capitalization and share liquidity. The controlling shareholders, SF Taisheng and S.F. Holding Co., Ltd., have expressed strong confidence in the company's long-term prospects and currently have no plans to reduce their shareholdings.

Regulatory Process and Next Steps

The company has submitted an application for the H-share full circulation to the China Securities Regulatory Commission (CSRC). The conversion of the unlisted shares into H-shares and their subsequent listing and trading on the Main Board of The Stock Exchange of Hong Kong is contingent upon obtaining all necessary approvals and/or completing required filings. This includes securing the CSRC's filing approval and the Hong Kong Exchange's consent, in full compliance with all applicable laws, regulations, and rules.

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