State Grid Sichuan to Transfer 7.96% Stake in State Grid Info to Parent
State Grid Sichuan Electric Power plans to transfer 95.3857 million unrestricted shares, or 7.96% of State Grid Information & Communication's total equity, to controlling shareholder State Grid Info & Communication Industry Group at no cost. Upon completion, the group will directly hold 621.6 million shares, or 51.93%, while State Grid Sichuan exits the shareholding. The controlling shareholder and actual controller remain unchanged, and procedures are underway.
State Grid Information & Communication (State Grid Info) announced progress on the gratuitous transfer of shares held by a shareholder owning more than 5% of the company. According to the announcement, State Grid Sichuan Electric Power plans to transfer 95.3857 million unrestricted tradable shares to the controlling shareholder, State Grid Info & Communication Industry Group, at no cost. The shares to be transferred represent 7.96% of the company's total share capital.
Upon completion of the transfer, State Grid Info & Communication Industry Group will directly hold 621.6 million shares, accounting for 51.93% of the total share capital, while State Grid Sichuan Electric Power will no longer hold any shares in the company. The controlling shareholder and the actual controller of the company will remain unchanged. As of now, the relevant procedures for the gratuitous transfer of state-owned shares are still being processed.