Zhejiang Shibao Company Limited disclosed that its controlling shareholder, Zhejiang Shibao Holding Group, plans to cut its stake by up to 24.68 million A-shares—equivalent to 3.00% of the company’s total share capital—through a mixed approach of centralized bidding and block trades.
The reduction window opens 15 trading days after the announcement, running from 22 May 2026 to 19 August 2026, excluding sensitive periods. Key parameters are as follows: • Centralized bidding: up to 8.23 million shares (1.00% of share capital) within any 90-day period. • Block trading: up to 16.45 million shares (2.00% of share capital) within any 90-day period; transferees must hold the acquired shares for at least six months. Pricing will follow prevailing market levels and will be adjusted for any corporate actions such as dividends or bonus issues.
As of the announcement date, Zhejiang Shibao Holding Group owns 270.66 million A-shares, representing 32.90% of total equity. If the full 3.00% reduction is executed, its holding would fall to approximately 29.90%, leaving control of the company unchanged.
The stated reason for the sale is the shareholder’s own capital requirements. The group and its concert parties have observed all previous lock-up and reduction commitments, and the planned transaction complies with Shenzhen Stock Exchange self-discipline guidelines.
Management notes that execution will depend on market conditions, and timing and pricing remain uncertain. The company will provide ongoing disclosures, and investors are urged to monitor related announcements for updates.
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