CLSA PREMIUM (06877): CITIC Securities International plans to list and transfer approximately 40% of the company's shares.

CLSA PREMIUM (06877) announced that the major shareholder intends to transfer shares of the company through an agreement and publicly solicit potential buyers. On December 27, 2024, the company received a notification from CITIC Securities International Company Limited (CITIC SEC International) stating their intention to proceed with the share transfer. CITIC SEC International has officially published a listing notice on the Shanghai United Property Exchange Limited (Shanghai Property Exchange) to facilitate the transfer. CITIC SEC International plans to transfer a portion of its shareholding in the company, with approximately 8.13 billion ordinary shares to be transferred, representing 40% of the total issued shares of the company (final percentage subject to actual delivery). The transfer price is set at RMB 9071.500568 million. CITIC SEC International is a central financial institution regulated by the Ministry of Finance of China and is under China CITIC Group Limited. As of the date of this announcement, CITIC SEC International holds a total of 12.003 billion ordinary shares of the company, accounting for 59.03% of the total issued shares. After the completion of the share transfer, CITIC SEC International will hold a total of 3.87 billion ordinary shares of the company, representing 19.03% of the total issued shares (final percentage subject to actual delivery). If the share transfer is completed as per the listing notice, the intended buyer will acquire more than 30% of the voting rights of the company and may replace CITIC SEC International as the controlling shareholder, potentially triggering a mandatory general offer to all shareholders in accordance with Rule 26.1 of the takeover code. The company has been informed that as of the date of this announcement, CITIC SEC International has not entered into discussions or negotiations with potential buyers, nor have they reached any agreements regarding the potential sale.