Lanzhou Bank Shareholder Huabang Group's 51 Million Shares Disposed to Offset Debt, Stake Drops to 4.39%
Lanzhou Bank announced on September 1 that shareholder Huabang Group's 51 million shares, representing 0.90% of total equity, were disposed through judicial action to offset debts and transferred to Gansu Yate Investment Group at a tax-assessed price of RMB 2.23 per share. Following the transfer, Huabang's stake fell from 5.28% to 4.39%, below the 5% threshold, removing its status as a major shareholder.
Lanzhou Bank announced on September 1 that shareholder Huabang Holdings Group Co. , Ltd. ("Huabang Group") had 51 million shares of the bank, representing 0.90% of total share capital, disposed through judicial proceedings to offset debts. The shares were transferred to Gansu Yate Investment Group Co. ("Yate Group") at a tax-assessed price of RMB 2.23 per share, and the relevant registration of transfer has been completed. According to the announcement, the shares held by Huabang Group were under pledge and judicial freeze.
Following this change in equity, Huabang Group's holdings in Lanzhou Bank decreased from approximately 301 million shares to approximately 250 million shares, reducing its stake from 5.28% to 4.39%. As the stake fell below 5%, Huabang Group is no longer a major shareholder of the bank. The transferee, Yate Group, now holds a 0.90% stake. The announcement stated that this share change is conducive to lowering Lanzhou Bank's equity pledge ratio and optimizing its ownership structure and corporate governance framework. Yate Group will continue to comply with the relevant reduction commitments and regulatory requirements that Huabang Group made at the time of the bank's listing.