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An announcement from Central China Management Company Limited ( (HK:9982) ) is now available.
Central China Management Company Limited has announced a major reshuffling of its shareholder structure after Joy Bright Investments, wholly owned by chairman and non-executive director Wu Po Sum, agreed to sell 579,844,000 shares, or 15% of the company’s issued share capital, to King Link International Investment. The transaction, completed at a consideration of HK$33.1 million, will reduce Joy Bright’s stake from about 35.13% to 20.13%, causing it to lose its status as controlling shareholder while remaining a substantial shareholder.
Following the disposal, King Link International Investment, ultimately owned by investor Wong Wing Hang Alex, will see its holding rise from 10% to 25%, making it the single largest shareholder of Central China Management. The board stated that it does not expect the change in shareholding control to have any material adverse impact on the operations of the company and its subsidiaries, although shareholders and potential investors have been cautioned to act carefully when dealing in the company’s shares amid the ownership transition.
More about Central China Management Company Limited
Central China Management Company Limited is a Hong Kong–listed company incorporated in the Cayman Islands, operating in the property management and related services sector in mainland China. The company’s shares trade on the Main Board of the Hong Kong Stock Exchange under stock code 9982, with a shareholder base that includes both controlling and substantial investors.
Average Trading Volume: 9,734,648
Technical Sentiment Signal: Sell
Current Market Cap: HK$220.3M
Learn more about 9982 stock on TipRanks’ Stock Analysis page.