On June 18th, Gelunhui announced that Shougang Cent (00103.HK) received notifications from its major shareholder Fair Union Holdings Limited and shareholder Qin Tai Management Co., Ltd. on June 18, 2024, stating that (1) Fair Union intends to transfer no more than 4.47% of the company's issued share capital through public listing for transfer to eligible transferees; and (2) Qin Tai Management intends to transfer all of its current holding of approximately 0.43% of the company's issued share capital through public listing for transfer to eligible transferees.
According to the Measures for the Supervision and Administration of State-owned Equity of Listed Companies (Order No. 36 of the State-owned Assets Supervision and Administration Commission, the Ministry of Finance, and the China Securities Regulatory Commission), Article 23 stipulates that the price at which State-owned shareholders publicly solicit transfer of shares of listed companies shall not be lower than the higher of the two pricing rules: the audited net asset value per share of the listed company in the most recent accounting year (about HKD 0.86); the arithmetic mean of the daily weighted average prices of the last 30 trading days before the announcement date (about HKD 0.25).