Shanghai Electric Group Company (HK:2727) has released an update.
Shanghai Electric Group’s controlling shareholder, Shanghai Electric Holding Group Co., Ltd., has reduced its stake in the company from 44.11% to 43.10% following the exchange of shares by holders of exchangeable bonds. This change involved a decrease of 156,283,512 shares, representing 1% of the total share capital. The exchangeable bonds, initially issued to professional investors, have facilitated a total exchange of 5.67% of the company’s total shares.
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