Major Shareholder Sells Stake in Laminates Producer

Stock News06-22

A recent filing with the Hong Kong Stock Exchange has revealed a significant share sale.

On June 17, Kingboard Investments Limited divested 155 million shares of KB LAMINATES (SEHK: 01888). The transaction was executed at a price of HK$76 per share, resulting in a total consideration of approximately HK$11.78 billion.

Following this disposal, the selling entity's holding in the listed company decreased to around 159 million shares. This represents a stake of approximately 5.05%. The transaction involved related parties including Kingboard Holdings Limited, Jamplan (BVI) Limited, and Hallgain Management Limited.

Additional Transaction Details

Kingboard Investments Limited, an indirect wholly-owned subsidiary of KHL, entered into a placing agreement for the sale of the 155 million shares on June 17. As Hallgain Management Limited controls more than one-third of the voting power in KHL, it is deemed to have an interest in these shares. Consequently, Hallgain's deemed interest in the listed corporation is reduced from 66.61% to 61.69% as a result of this disposal.

Kingboard Investments Limited is also identified as a wholly-owned subsidiary of Jamplan (BVI) Limited. The company entered into the same placing agreement for the share sale on the specified date.

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