China Agricultural Products Exchange (00897) issued an announcement relating (including) to the physical distribution of Wai Yuantang and its subsidiaries...
According to Zhitong Finance App, China Agricultural Products Exchange (00897) issued an announcement regarding the payment of proposed special dividends (including) through physical distribution of certain shares of other listed companies held by Wai Yuantang and its subsidiaries (including the company's 5.311 billion shares).
After completing the physical distribution of agricultural products in China, it is expected that approximately 3,675 billion shares (accounting for about 36.92% of the shares) will be distributed to Rich Time Strategy Limited (Rich Time), a wholly-owned subsidiary of Hongan Group holding Weiyuantang shares. Therefore, assuming that Wai Yuantang no longer holds any shares, Hongan Group's total equity in the company is expected to be reduced from about 73.54% to about 57.09%, while Rich Time (which does not hold any direct interest in the company at the date of this announcement) is expected to acquire about 36.92% of the company's direct equity.