Wuxi Bank announced that shareholders Xingda Nylon and Shenwei Chemical, due to operational development needs, plan to reduce their combined holdings by no more than 43.1012 million shares through block trades, accounting for 1.96% of the company's total share capital. Based on the latest stock price, the estimated cash-out amount is approximately 238 million yuan. Among them, Xingda Nylon plans to reduce holdings by no more than 3.52 million shares, representing 0.16% of total share capital; Shenwei Chemical plans to reduce holdings by no more than 39.5812 million shares, representing 1.8% of total share capital. Xingda Nylon, Shenwei Chemical, and Yin Xinzhong are persons acting in concert, collectively holding 6.86% of the company's shares. All shares to be reduced were acquired before the IPO and have been fully unlocked. As of the close on August 5, Wuxi Bank closed at 5.52 yuan, with a total market capitalization of 12.115 billion yuan.
Wuxi Rural Commercial Bank Co LtdMajor shareholders plan to reduce holdings, creating selling pressure.
Xingda Nylon plans to reduce its holdings in Wuxi Bank.
Shenwei Chemical plans to reduce its holdings in Wuxi Bank.
