Fengyuan Pharmaceutical opened at the daily limit up on August 18, trading at 6.68 yuan per share, with a total market value of about 3.104 billion yuan. On the previous trading day evening, the company disclosed that three concert parties of its controlling shareholder Fengyuan Group signed a share transfer agreement with Bengbu Investment Group, under which the Bengbu municipal state-owned capital platform plans to acquire a 21.53% stake in the company. The proposed transfer involves a total of 100,037,121 shares at a price of 6.41 yuan per share, a premium of about 7.9% over the August 14 closing price of 5.94 yuan, with a total transaction value of about 641 million yuan. If the deal is completed, the listed company's controlling shareholder will change to Bengbu Investment Group, and its actual controller will change to the Bengbu Municipal State-owned Assets Supervision and Administration Commission. The transferee has committed not to transfer the underlying shares to outside parties within 60 months after the share transfer registration is completed, not to pledge the shares within 36 months, and not to inject its own or related parties' assets into the listed company within 36 months.
Anhui Fengyuan Pharmaceutical Co LtdState-owned platform to acquire 21.53% stake at premium, changing control
Acquiring control of listed company, expanding state portfolio
Controlling shareholder selling stake, not directly impacted
