Red Star Macalline’s Shareholder Restructuring Plan Approved by Court

Red Star Macalline Group Corporation Ltd Class H ( (HK:1528) ) has shared an announcement.

Red Star Macalline Group Corporation Ltd announced a court ruling approving the restructuring plan for its second largest shareholder, RSM Holding. This decision, made by the Pudong New Area People’s Court of Shanghai, will result in a decrease in RSM Holding’s shareholding in the company from 22.512% to 18.941%, as shares are distributed to creditors as part of a debt settlement. The restructuring plan’s approval and the subsequent changes in equity are expected to impact the company’s governance, with Mr. Che Jianxing ceasing to be the controller of RSM Holding.

More about Red Star Macalline Group Corporation Ltd Class H

Red Star Macalline Group Corporation Ltd is a sino-foreign joint stock company incorporated in China, operating in the home improvement and furniture retail industry. The company is listed on the Hong Kong Stock Exchange and offers a range of products and services related to home furnishings and interior design.

Average Trading Volume: 4,238,690

Technical Sentiment Signal: Sell

Current Market Cap: HK$12.48B

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