According to Zhitong Finance App, Zhang Li International (01693) announced that the controlling shareholder of the company, Jiefeng International Trading Co., Ltd. has agreed to acquire and Kingdom Base Holdings Limited (the “seller”, wholly owned by the company's former director Dato' Mohd Arifin Bin Mohd Arif) has agreed to sell a total of 36 million shares of the company's common shares at HK$0.065 per share, accounting for 2% of the company's total issued shares. Following the completion of the acquisition, Jiefeng International's common shares increased to 900 million shares, accounting for 50% of the company's total issued shares.
As a result, Tan Sri Wu Mingzhang and Dato' Zheng Guoli indirectly held the company's interests after completing the acquisition through Jiefeng International and Seeva International, holding a total of 1,244 billion shares, accounting for about 69.13% of the company's total issued shares.