Major shareholder of WELLCELL HOLD (02477) sold 19.9% of the company's shares to Everbright International Holdings.

WELLCELL HOLD (02477) announced that on January 6, 2025, the company's controlling shareholder, WELLCELL HOLD Group, entered into a share purchase agreement with Evergrande International Holdings Limited (the investor), involving the sale of 99.5 million shares of the company at a price of HK$4.52 per share (equivalent to 19.9% of the company's total issued share capital as of the date of this announcement). The sale is expected to be completed on or before January 17, 2025, or on any other date agreed upon in writing by WELLCELL HOLD Group and the investor. Upon completion of the sale and assuming no other changes to the share structure and issued shares, the number of shares held by WELLCELL HOLD Group will decrease from 255 million shares to 155.5 million shares (representing 31.1% of the company's total issued share capital), while WELLCELL HOLD Group will remain the controlling shareholder of the company and the investor will become the major shareholder holding 99.5 million shares (19.9% of the company's total issued share capital). It is reported that the investor's sole director and controlling shareholder is Mr. Qian Fenglei, the founder and CEO of Zhejiang Evergrande International Holdings Limited.