Largest shareholder quitting Jiangshan Agrichemical-Sinochem International to let out shares
Date:02-02-2018
On January 29,
Jiangshan Agrochemical announced its largest shareholder Sinochem International’s decision to let out its shares of 29.19% in Jiangshan Agrochemical. Sinochem International currently holds some 86.6841 million shares, which account for 29.19% of the total equity shares of the company, being the largest shareholder at the moment.
Sinochem International also disclosed information regarding the transfer of shares. According to an announcement of Sinochem International, the company intends to openly seek interested assignees to let out its shares in Jiangshan Agrochemical via contract transfer for the purpose of strategic adjustment and optimization of the capital structure of the company.
According to Sinochem International, as based on the calculation of the open sales of its shares, regardless of the changes in equity from January 1, 2018, until the transfer closing date, excluding possible dividend and net profit, Jiangshan Agrochemical expects an additional Yuan520 million net profit from the share transfer.
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