Lian'an Life Insurance plans to acquire a 5% stake in Zhongshan Public for 899 million yuan

2026-04-05 14:19:48

On April 2, Zhongshan Public Utilities issued an announcement stating that the company’s controlling shareholder, Zhongshan Investment Holding Group Co., Ltd. (hereinafter referred to as “Zhongshan Investment Holding”), plans to transfer the company’s shares it holds through an open bidding and solicitation transfer process under an agreement, transferring 73.755567 million shares, which is 5% of the company’s total share capital as of now. After Zhongshan Investment Holding’s comprehensive evaluation and assessment, Lian An Life Insurance Co., Ltd. (hereinafter referred to as “Lian An Life”) was determined as the final transferee. Both parties signed the “Share Transfer Agreement” on April 1.

After consultation and agreement between the transferor and transferee, it was determined that the per-share transfer price is RMB 12.19 per share, and the total consideration for the transfer of the underlying shares is RMB 899 million.

Before this equity change, Lian An Life held 46.000022 million shares of the company, accounting for 3.12% of the company’s total share capital as of now. After this equity change, Lian An Life will hold 120 million shares, accounting for 8.12% of the company’s total share capital as of now, and will become a shareholder holding more than 5% of the company’s shares.

(Zhongshan Public Utilities)

(Editor: Qian Xiaorui)

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