Gelonghui March 15 | BAIC Blue Valley (600733.SH) announced that BAIC Motor Group Co., Ltd. (hereinafter referred to as “BAIC Group”), the controlling shareholder of the company, plans to entrust voting rights corresponding to all of the company's shares directly held by it to BAIC Motor Co., Ltd. (hereinafter referred to as “BAIC Motor”), the company it controls.
After this share escrow, BAIC Motor can actually control about 38.70% of BAIC Blue Valley's voting power, more than 30%, triggering an offer. However, since this change in equity was carried out between different entities controlled by the same actual controller, it is a situation where it is exempt from increasing its shares through an offer. After this share escrow, the company's direct controlling shareholder will be changed from BAIC Group to BAIC Motor, and the actual controller will remain the same.