Hangzhou SF Intra-city Industrial OKs Articles of Association Changes Following Capital Reduction

MT Newswires Live10-07

Hangzhou SF Intra-city Industrial (HKG:9699) approved an amendment in its articles of association following a reduction in the registered capital of the company.

The company's registered share capital reduced to 917.4 million yuan from 933.5 million yuan and the share capital structure of the company now contains 917,375,507 ordinary shares instead of 933,457,707, a Friday filing with the Hong Kong Exchange said.

The company's share capital structure now includes 171,764,898 domestic shares and 745,610,609 H Shares instead of 761,692,809 H shares, the filing said.

The company, as of the filing date, had repurchased 19,203,000 H shares under its 'repurchase mandate', about 2.09% of its total share capital and 2.58% of its issued H shares, for nearly HK$200 million, at an average repurchase price of HK$10.37 apiece with HK$12.68 per share as the highest repurchase price paid and HK$8.87 per share as the lowest.

The company has canceled 16,082,200 H shares repurchased between Oct. 19, 2023, and June 10, 2024, while it held the remaining 3,120,800 H shares in treasury.

The on-demand delivery services provider's shares fell over 2% on Monday's close.

Price (HKD): $11.36, Change: $-0.24, Percent Change: -2.07%

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