Gelonghui, Feb. 23 | ST Tesco (002024.SZ) announced that the company recently received a notice from shareholder Taobao (China) Software Co., Ltd. (“Taobao China”), and on February 20, 2024, Taobao China and Hangzhou Haoyue Enterprise Management Co., Ltd. (“Hangzhou Haoyue”) signed the “Share Transfer Agreement on Suning Tesco Group Co., Ltd.”, agreeing that Taobao China will transfer all 1,861,076,927 shares of Suning Tesco Group Co., Ltd. to Hangzhou Haoyue. This change in equity is a transfer of the company's shares between different entities under the same control within the Alibaba Group.
The transfer price per share (“Transfer Price”) of the underlying shares is RMB 1.53, which is not less than 90% (90%) of the closing price of Suning Tesco shares on the trading day prior to the signing of this agreement. The total transfer price of the underlying shares payable by the transferee is the product of the transfer price of each share and the number of underlying shares, that is, the total share transfer price payable by the transferee to the transferee is approximately RMB 2,847 billion (“share transfer price”).
After the equity change was completed, Taobao China no longer held any shares in Suning Tesco. Hangzhou Haoyue held 1,861,076,927 shares of Suning Tesco tradable shares under unlimited conditions of sale, accounting for about 19.99% of Suning Tesco's total share capital.