Newsletter summary
Bailian shares announcedSlammer37500Bailian Group will subscribe for new domestic shares of Lianhua supermarket and increase its capital by 3.Slammer37500.600 million shares, or 1.00 yuan per share, will be reduced from 20.03% to 15.15% after completion to support its strategic transformation and sustainable development. At the same time, Lianhua supermarket and its wholly-owned subsidiaries plan to increase the capital of some wholly-owned subsidiaries.
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[Bailian Group intends to subscribe for no more than 360 million new domestic shares of Lianhua supermarket with a subscription price of RMB1.00 per share] Bailian shares (600827) (600827.SH) announced on May 12th that its controlling shareholder, Bailian Group Co., Ltd., plans to reach a share subscription agreement with Lianhua supermarket Co., Ltd., with cash subscription of no more than 360 million new domestic shares of Lianhua supermarket at a subscription price of RMB1.00 per share. Upon completion, the proportion of Bailian shares directly holding Lianhua supermarket will be reduced from 20.03% to 15.15%. Lianhua supermarket, founded in 1997, specializes in three major retail formats: hypermarkets, standard super stores and convenience stores. It was listed on the Hong Kong Stock Exchange on June 27, 2003, becoming the first retail supermarket chain company in China. However, due to the influence of internal and external factors, Lianhua supermarket is facing a bottleneck in recent years. In order to achieve strategic transformation and promote the development of core business formats, Lianhua supermarket plans to issue new domestic shares to Bailian Group in order to obtain financial support. In order to optimize the corporate debt structure and promote the sustainable development of Lianhua supermarket subsidiaries, Lianhua supermarket and its wholly-owned subsidiary Shanghai Century Lianhua supermarket Development Co., Ltd. plans to increase capital to some wholly-owned subsidiaries. The base date of capital increase is December 31, 2023. The capital increase plan and amount have been examined and approved at the 35th meeting of the ninth board of directors of the company.
