Sanvo Fine Chemicals Sells 3.332 Million Shares of SANVO CHEMICALS at HK$1.5 Each

Stock News04-14

According to the latest data from the Hong Kong Stock Exchange, on April 8, Sanvo Fine Chemicals Limited reduced its stake in SANVO CHEMICALS (00301) by selling 3.332 million shares at a price of HK$1.5 per share. The total transaction value amounted to HK$4.998 million. Following this disposal, the company's latest shareholding stands at approximately 304 million shares, representing a 64.63% stake. The transaction involved other related parties: Liang Yinsheng and Chen Bingqiang.

Additional information indicates that Ms. Liang Yinsheng, the spouse of Mr. Chen Bingqiang, is deemed to have an interest in the shares held by Mr. Chen Bingqiang through his controlled corporation, Sanvo Fine Chemicals Limited. As Sanvo Fine Chemicals Limited has completed the sale of 3,332,000 shares, Ms. Liang Yinsheng's interest in the shares of SANVO Fine Chemicals Group Ltd has decreased.

Sanvo Fine Chemicals Limited is wholly-owned by Mr. Chen Bingqiang. Under the Securities and Futures Ordinance (SFO), Mr. Chen Bingqiang is deemed to be interested in the shares of SANVO Fine Chemicals Group Ltd held by Sanvo Fine Chemicals Limited. Consequently, following the sale of 3,332,000 shares by Sanvo Fine Chemicals Limited, Mr. Chen Bingqiang's interest in the shares of SANVO Fine Chemicals Group Ltd has also been reduced.

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