Financial news
Written by: Zhang Weilun
2019-11-28 10:06
Last updated: 2019-11-28 13:47COFCO Holdings (0606) was proposed to be privatized by the major shareholder COFCO. The price per share was 4.25 yuan, which was a premium of 34.07% compared to 3.17 yuan before the suspension. COFCO has stated clearly that it will not increase prices.
COFCO resumed trading this morning. The latest report was 4.03 yuan, up 27.1%, and the turnover was 601 million yuan.
COFCO was listed on March 21, 2007 with a listing price of 3.72 yuan.
At present, COFCO and other concerted parties hold 60.75% of COFCO, that is, the planned shares account for 39.25% of the issued shares. Together with a number of options, COFCO needs to spend up to 9.167 billion yuan.
The company pointed out that large shareholders proposed privatization, and the company's share price trend was weak, and it was difficult to fund business development through equity financing; if the privatization was successful, it would help the company streamline corporate governance, corporate and equity structure, and optimize the organizational layer.
COFCO Holdings suspended trading pending publication of inside information announcement in accordance with the Takeovers and Mergers Code
COFCO Transaction Shares