Wanwei Intelligent Technology (00209.HK) major shareholder Wang Jingyu has completed the placement of existing shares.

Intelligence Finance APP News, Wanjie Intelligent Technology (00209.HK) announced that its major shareholder Wang Jingyu intends to sell up to approximately 299 million shares of the company. The Board of Directors of the company has been informed by Ms. Wang Jingyu that all the shares have been successfully allocated to not less than six underwriters at a price of HK$0.33 per share. Based on all reasonable inquiries made by the Directors, they are deeply aware, fully informed, and convinced that (i) each underwriter and their respective ultimate beneficial owners are independent of the Company and its related parties, and are not affiliated, nor in concert with each other; and (ii) no underwriter will become a major shareholder of the Company after the completion of the private placement transaction.