Summary by Moomoo AI
China Telecom Co., Ltd. (“China Telecom”) issued a notice on 27 May 2024 disclosing the vesting of a portion of shares held by its shareholders of more than 5% of the shares of Guangdong Guangsheng Holding Group Limited (“Guangdong Guangsheng”). GUANGDONG GUANGSHENG HOLDS 5,614,082,653 SHARES OF CHINA TELECOM UNLIMITED CIRCULATION A SHARE, REPRESENTING 6.14% OF THE TOTAL SHARE CAPITAL. The number of outstanding shares is 420,000,000 shares. At the completion of the deposit, Guangdong Guangsheng's cumulative pledged shares amounted to 820,000,000 shares, representing 14.61% of the total number of A shares held and 0.90% of the total share capital of China Telecom. The pledged shares will be used to provide guarantees for exchangeable corporate bond swaps and repayment of interest. China Telecom said it will continue to monitor the security situation of its shareholders' shares and strictly comply with disclosure requirements.