On January 21, 2020, Ningbo Zhoushan Port proposed a proposal related to the non-public issuance of A-shares.
The non-public issuance of shares is domestically listed RMB ordinary shares (A shares), each with a par value of RMB 1.00. The non-public issuance is adopted to specific targets. The targets are Ningbo Zhoushan Port Group and Shanghai International Port Group. The total amount is RMB 9,668,870,288.87, and the issue price is RMB 3.67 per share.
Among them, SIPG subscribed for 790,370,868 A-shares of the non-public issuance of Ningbo Port in cash, with the total amount of the company's subscription being RMB 2.9 billion. After the completion of this subscription, SIPG held 790,370,868 A-shares of Ningbo Port, accounting for 5% of the total number of shares of Ningbo Port after the issuance.
Source: Sarah Yu, XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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