China Hongqiao Group Ltd. (HK:1378) has released an update.
China Hongqiao Group Limited has announced that its controlling shareholder, Hongqiao Holdings, has increased its stake by purchasing an additional 6,645,000 shares in the open market, signaling confidence in the company’s future growth. This acquisition raises Hongqiao Holdings’ ownership from 64.20% to 64.27%, while still allowing the company to meet the public float requirement of 15.04%. The company hints at the possibility of further stake increases by the shareholder in compliance with market regulations.
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