Macrolink Holdings Co., Ltd. disclosed July 11 that in the coming 6 months, the company plans to accumulate shares in Sailun Jinyu Group by 1% to 4.5% with its own capital.
Macrolink Holdings hasn’t set a price range for the accumulation but will refer to the market.
After the accumulation, the company intends to hold a 9.5% stake in Sailun Jinyu.
At the same time, Macrolink Holdings promises not to seek for a controlling share in Sailun Jinyu in the coming 12 months.
Macrolink Holdings revealed that they are optimistic about the prospect of Sailun Jinyu, agree with the operating and development strategy, and plan to hold its shares for long.
The equity of Sailun Jinyu is comparatively disperse, with the controlling shareholder Du Yudai holding a 6.45% stake in it.
After the accumulation, the 9.5% stake holds by Macrolink Holdings will surpass Du’s and make the former to be the largest shareholder of Sailun Jinyu.
An industry insider said that a war concerning the de facto control of Sailun Jinyu has escalated between Macrolink Holdings and Du.
