After more than a month of waiting, Changjiang Securities (000783. SZ) has made new developments in the matter of equity changes.
On May 15, Changjiang Securities announced that the State-owned Assets Supervision and Administration Commission of the State Council issued the "Reply on Matters Concerning the Non-public Agreement Transfer of Shares Held by State-owned Shareholders of Changjiang Securities Co., Ltd.", agreeing that Hubei Energy (000883. SZ) Group Co., Ltd. (hereinafter referred to as "Hubei Energy") and Three Gorges Capital Holding Co., Ltd. (hereinafter referred to as "Three Gorges Capital") transferred their shares in Changjiang Securities to Changjiang Industrial Investment Group Co., Ltd. (hereinafter referred to as "Changjiang Industrial Group") by way of a non-public agreement; After the completion of the share transfer, the total share capital of Changjiang Securities remains unchanged, of which Hubei Energy and Three Gorges Capital no longer hold shares of Changjiang Securities.
According to the announcement, this equity change, Changjiang Industry Group intends to transfer 530 million shares and 333 million shares of Changjiang Securities held by Hubei Energy and Three Gorges Capital at a price of 8.20 yuan per share by way of agreement transfer, accounting for 9.58% and 6.02% of the total number of shares of Changjiang Securities respectively.
In addition, the announcement shows that Changjiang Industry Group has signed the "Concerted Action Agreement" with Wuhan Urban Construction Group Co., Ltd., Hubei Hongtai Group Co., Ltd., Hubei Tourism Investment Venture Capital Co., Ltd., Hubei SME Financial Service Center Co., Ltd., and Hubei Daily Media Group, which are shareholders of Changjiang Securities, stipulating that these shareholders will act in concert with Changjiang Industry Group when participating in the corporate governance of the company.
According to the announcement, the equity change still needs to be approved by the State-owned Assets Supervision and Administration Commission of the Hubei Provincial People's Government, and the qualification of Changjiang Industrial Group as a major shareholder of the company still needs to be approved by the China Securities Regulatory Commission. It means that the equity change has not yet been fully implemented.
Flush shows that as of the end of the first quarter of this year, Changjiang Industrial Group was the eighth largest shareholder of Changjiang Securities, holding a total of 100 million shares of the company, accounting for 1.81% of the total share capital. Hubei Energy and Three Gorges Capital are the second and third largest shareholders of Changjiang Securities, respectively.
This means that if this equity change is implemented, Changjiang Industrial Group will hold a total of 17.41% of the shares of Changjiang Securities, with a total of 963 million shares, both of which will exceed the current largest shareholder, Xinliyi Group Co., Ltd.
According to Flush, the Yangtze River Industrial Group is a large state-owned company funded by the Hubei Provincial People's Government in order to realize the strategy of the rise of central China and promote the in-depth implementation of a new round of opening up and development strategy in the Hubei Yangtze River Economic Belt, which was established in November 2010 with a registered capital of 3.25 billion yuan.
On the day of the announcement, the share price of Changjiang Securities achieved a slight increase in the overall decline of the securities sector, becoming one of the only two brokerage stocks in the A-share market on May 15, an increase of 0.18%, and the other rising brokerage stock was Guolian Securities, which resumed trading.