The capital market is never short of new forces that are eager to try. With the withdrawal of intercontinental oil and gas (600759) shareholders at a loss, new forces have entered the game.
On the evening of February 9, Intercontinental Oil & Gas announced that Shenzhen Fuwei Tianji Investment Enterprise (Limited Partnership) (hereinafter referred to as "Fuwei Tianji"), a shareholder holding more than 5% of the shares, intends to transfer 113 million shares of the company it holds to Lin Lidong, a natural person, through an agreement transfer, at a transfer price of 3.024 yuan per share, with a total transfer price of 342 million yuan. After this change of rights, Fuwei Tianji still holds 17.06 million shares of the company, accounting for 0.75% of the total share capital of the company; Lin Lidong holds 113 million shares, accounting for 5% of the total share capital of the company. The company's latest stock price is 3.25 yuan per share, and the transfer price of the two agreements is about 6% discounted by them.
In 2014, Fuwei Tianji moved in as a fixed shareholder of Intercontinental Oil & Gas. At the end of 2014, Intercontinental Oil & Gas issued shares to raise funds to acquire a 95% stake in Ma Teng, taking this as an opportunity to enter the energy sector. At that time, the company raised 3.12 billion yuan from the controlling shareholder Guangxi Zhenghe Industrial Group and other institutions at 6 yuan per share, and Fuwei Tianji subscribed for about 100 million shares as one of the shareholders of the fixed increase, with a restriction period of 36 months, and was listed and circulated from December 19, 2017. With the 10-to-3 of Intercontinental Oil & Gas, the shares held by Fuwei Tianji increased to 130 million shares, still accounting for about 5.75% of the total share capital.
Intercontinental Oil & Gas has not developed smoothly in recent years, becoming the first listed company to suffer from the equity pledge of the controlling shareholder in 2017, and the 665 million shares (accounting for 29.38% of the total share capital) held by the controlling shareholder Guangxi Zhenghe were quickly frozen. The company's main business is also worrying, the acquisition project is not profitable, following the continuous decline in performance in 2015 and 2016, it is expected to lose 180 million yuan to 210 million yuan in 2017. Correspondingly, its share price has also risen step by step, falling by about 80% since its high point in June 2015.
Combined with the announcement, Fuwei Tianji should have greater financial pressure, and it is not surprising that the reduction is reduced. As of September 4, 2017, Fuwei Tianji had pledged a total of 130 million shares of the company, accounting for 99.85% of the company's shares and 5.74% of the company's total share capital. After the lifting of the ban on restricted shares in December 2017, on January 23, 2018, Fuwei Tianji disclosed its shareholding reduction plan through the listed company, and intends to reduce its shareholding in the company by means of block trading or centralized bidding within 6 months. If this equity transfer is added, the shares of the company held by Fuwei Tianji will be fully liquidated. However, with the equity transfer alone, Fuwei Tianji has a book loss of more than 150 million yuan.
So, what is the origin of Lin Lidong, who is willing to take advantage of the low to take over 113 million shares of intercontinental oil and gas? According to the announcement, Lin Lidong was born in November 1970 and his residence is Wuhua District, Kunming City, Yunnan Province. According to the survey, Lin Lidong is the chairman of Yunnan Ziyuan Group and a standing member of the 11th Committee of the Yunnan Provincial Committee of the Chinese People's Political Consultative Conference. Based in Yunnan, Ziyuan Group mainly develops small towns and hoards more than 3,000 mu of land reserves. A number of real estate projects have been developed in Xishuangbanna, Baoshan, Shangri-La and other places in Yunnan.
According to Tianyan' investigation, Lin Lidong has many companies, and is currently the legal person, chairman and general manager of Yunnan Ziyuan Investment Company, as well as a shareholder or executive of Many real estate companies such as Yunnan Ziyuan Real Estate Development Co., Ltd. and Xishuangbanna Zhengyuan Real Estate Development Co., Ltd. In addition, Ziyuan Investment cooperates well with Luxin Group, and Ziyuan Investment and Luxin Venture Capital Group are the major shareholders of Anhui Luxin Investment Co., Ltd., holding 30% of the shares.
For the takeover of intercontinental oil and gas, Lin Lidong said in the announcement that it is based on its own strategic development and increase the shares of listed companies, in addition, there are no other plans to increase or reduce intercontinental oil and gas shares in the next 12 months. At the time of the intercontinental oil and gas turmoil, Lin Lidong plans to spend more than 300 million yuan to enter the game, and there may be unfinished plots in the follow-up.