Completion of the Share Delivery Formalities Signifying Shenzhen Capital Group Formally Becoming a Shareholder of CIMC
On December 18, China International Marine Containers (Group) Ltd. (CIMC) made an announcement that the company recently received a Notification on Completion of Share Transfer Registration respectively from Shenzhen Capital Holdings Co., Ltd. (“Shenzhen Capital Holdings”) and Shenzhen Capital (Hong Kong), suggesting completion of the share transfer registration procedure with respect to A-shares and H-shares of CIMC strategically purchased by Shenzhen Capital Holdings.
Shenzhen SASAC Becoming the Largest Shareholder of CIMC by Holding 29.74% Shares
To date, Shenzhen Capital Holdings and its wholly-owned company have respectively held 350,000,000 A-shares and 719,089,532 H-shares in CIMC, altogether comprising 29.74% of the shares in CIMC, and become the largest shareholder of CIMC. Shenzhen Capital Holdings is a state-owned enterprise with 100% shares held by Shenzhen SASAC, which means Shenzhen SASAC formally becomes a shareholder of CIMC.
After completion of the share transfer, Zhongyuan Industry under COSCO Shipping remains a shareholder of CIMC by holding a small portion of shares that comprise about 4.69% of the share capital, while Changyu, Broad Ride Limited and Promotor Holdings Limited cease to be shareholders.
China Merchants becomes the second largest shareholder of CIMC by continuing to hold 880 million H-shares (comprising 24.49% in the total share capital of CIMC).
CIMC’s Mixed Ownership Remaining Unchanged
After the delivery, COSCO Shipping continues to hold a portion of shares in CIMC, and is expected to cooperate further with CIMC. China Merchants, a founding shareholder of CIMC, still holding the same proportion of shares as before, becomes the second largest shareholder of CIMC. The share transfer does not change the long-term mixed ownership in CIMC.
According to the announcement, CIMC had no holding shareholder or actual controller before the share transfer, nor did it have after the transfer.
Continuing Focus on Owners to Seize the Opportunity of the Capital Market Reform ”
At the share transfer signing ceremony held in October, Hu Guobin, Chairman of Shenzhen Capital Holding, said that “Shenzhen Capital Holdings and CIMC share the feature of ‘being born in reform and growing in reform’; after the strategic share purchase, the parties will continue efforts in advancing the market-oriented mechanism of CIMC, give full play to respective advantages to realize double-wheel (industrial development and capital operation) drive and joint contribution to development of physical economy in Shenzhen.”
At the signing ceremony, Mai Boliang, Chairman and CEO of CIMC, said that the share purchase by Shenzhen Capital Holdings was a starting point for a new historical journey of CIMC and the company would deeply coordinate with major shareholders to deliver outstanding performance and earn more “world championships”, so as to make greater contribution to the physical economy.