Information from the Hong Kong Stock Exchange reveals a significant share position change for Riverine China (01417) on June 12th. The total value of the transferred shares amounted to HK$60.0869 million, representing 7.69% of the relevant holdings.
A shareholder of the company transferred 30.61 million shares into Galaxy Securities Hong Kong, while an equivalent number of shares, 30.61 million, were transferred out of Zhongtai International Securities.
On the evening of May 18th, Riverine China announced that its board had taken note of unusual recent price fluctuations in the company's shares on the Stock Exchange. Hegao Holdings Limited (the potential seller, ultimately owned 87%, 10%, and 3% by Mr. Xiao Xingtao, Mr. Fu Qichang, and Mr. Chen Yao respectively) had entered into a memorandum of understanding on May 11th, 2026, with an independent third party (as the buyer) regarding the potential sale of approximately 300 million shares held by the potential seller, equivalent to about 74.08% of the company's total issued share capital as of the announcement date.
Following all reasonable enquiries by the company under the circumstances, the board confirmed that, aside from the disclosures mentioned above, it was not aware of any reasons for the price fluctuations, any information that must be disclosed to avoid a false market in the shares, or any inside information requiring disclosure under Part XIVA of the Securities and Futures Ordinance.
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