According to Hong Kong media reports, Qihe Tiandi (00976), which issued a profit warning last week, all its major shareholders and companies "pumped water". According to the company's announcement, Chairman Fang Ankong and another major shareholder Delco sold 65,438+06% of the company's shares to Sims, a Hong Kong subsidiary of SMM, the world's largest listed metal recycler listed in Australia, involving a huge amount. The company's share price soared yesterday, with an increase of 8.86%.
Qihe Tiandi was once a company controlled by Fang Ankong. Its main business place is Taizhou, Zhejiang Province, engaged in dismantling and processing of scrap metal. Originally, this was a very gimmicky industry, but because China's metal renewable resources were forced to withdraw from the market by short-selling institutions, companies in these industries were also daunting.
Qihe Tiandi suspended trading the afternoon before yesterday. Yesterday, it was announced that Fang Ankong sold 16% of the company's equity through its wholly-owned company HWH and another major shareholder Delco at a premium of 13.92%, involving a huge total amount, and HWH's shareholding will be reduced from 36.04% to 30.04%. Delco's shareholding ratio decreased from 32. 1 1% to 22. 1 1%.
Qihe Tiandi issues convertible bonds to raise funds:
In addition, Qihe Tiandi will subscribe for HWH, Delco and Sims to issue 3-year convertible bonds and warrants with an annual interest rate of 4%, accounting for about 2% of the issued share capital. If the net fund can be fully utilized, it will be used as working capital, including investment and development of comprehensive treatment facilities in Yuen Long, Hong Kong and Yantai, China.