Huaxin Building Materials announced that Huaxin Group, a shareholder holding more than 5 percent of the company, plans to increase its A-share holdings through the Shanghai Stock Exchange system via centralized bidding within 12 months from the date of the announcement. The total increase amount will be no less than 340 million yuan and no more than 680 million yuan. This increase will not trigger a mandatory tender offer and will not change the company's controlling shareholder or actual controller. Huaxin Group currently holds a 17.07 percent stake in the company.
Huaxin Cement Co Ltd AHuaxin Group plans to increase its stake by 340-680 million yuan, signaling confidence and supporting the stock.
