Chinese Automaker JAC’s Controlling Shareholder Plans to Increase Stake by up to 100 Million Yuan
Beijing (Gasgoo)- On April 8, Anhui Jianghuai Automobile Group Corp., Ltd. (JAC) announced that its controlling shareholder, Anhui Jianghuai Automobile Group Holdings Co., Ltd., intends to increase its holdings in the company by no less than 50 million yuan and up to 100 million yuan within the next six months.
Photo credit: JAC
The planned share purchase will be made using self-owned funds through centralized bidding on the Shanghai Stock Exchange. This decision showcases the shareholder’s faith in the capital market outlook and the company’s future growth potential.
At present, the controlling shareholder holds 615 million shares, representing 28.18% of JAC’s total outstanding shares of 2.184 billion. The proposed share acquisition does not have a fixed price range and will be adjusted based on market fluctuations and broader trends.
JAC reassured that this increase in shares will not impact the company’s listing qualifications or result in a change in actual control. Additionally, the controlling shareholder has committed not to decrease their holdings during the implementation and statutory lock-up period.
