Sino-Singapore Jingwei, May 31. Dongfeng Motor’s share transfer ushered in the latest news. The company’s controlling shareholder will be changed to Dongfeng Group. The company’s stock will resume trading on May 31 (Tuesday).
On May 30, Dongfeng Motor announced that on May 30, Dongfeng Group and the company’s controlling shareholder Dongfeng Co., Ltd. signed the “Share Transfer Agreement”, stipulating that Dongfeng Co., Ltd. will transfer its 598 million shares of Dongfeng Motor to Dongfeng Group (accounting for Dongfeng Motor). 29.90% of the total number of issued shares), and the agreed transfer price is 5.60 yuan per share; and it is agreed that following the completion of this share agreement transfer, Dongfeng Group will follow the relevant provisions of the “Administrative Measures for the Acquisition of Listed Companies” to listed companies except Dongfeng Group. All shareholders of the company issued a partial tender offer, the number of shares in the tender offer was 502 million shares (accounting for 25.10% of the company’s total issued shares), and the offer price was 5.60 yuan per share to gain control over the company.
The announcement stated that following the completion of this transaction, the controlling shareholder of the company will be changed from Dongfeng Co., Ltd. to Dongfeng Group; the actual controller will be changed from Dongfeng Co., Ltd. to the State-owned Assets Supervision and Administration Commission of the State Council.
On the evening of May 25, Dongfeng Motor announced that it received a notice from Dongfeng Co., Ltd. on May 24, 2019, that Dongfeng Co., Ltd. is planning the transfer of the company’s shares. The company’s stock has been temporarily suspended since the market opened on the morning of May 25 (Wednesday).
At that time, it was reported that people familiar with the matter revealed that the “split” of Dongfeng shares was only part of the overall reform of Dongfeng Limited. According to the opinions of the top management of Dongfeng Motor Group, the purpose of the reform is to reduce weight and increase efficiency, and there will be more actions in the future.
Wind information shows that as the undertaker of Dongfeng Group’s light commercial vehicle business, Dongfeng Motor’s main business is the design, manufacture and sales of a full range of light commercial vehicles and powertrains. Business units involve light truck business, engineering vehicle business, passenger car business, new energy business and engine business.
In the secondary market, Dongfeng Motor’s share price has entered an upward channel in the past month, with an increase of 7.66% and 7.29% on May 23 and 24, and closed at 6.18 yuan per share as of May 24. (Sino-Singapore Jingwei APP)Return to Sohu, see more
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