The second mixed reform of Greenland: it is planned to transfer 17.5percent shares of the company

category:Finance
 The second mixed reform of Greenland: it is planned to transfer 17.5percent shares of the company


According to the data of the annual report of Greenland holdings in 2019, the net asset value per share of the company in 2019 is about 6.32 yuan, which is lower than the average share price of Greenland holdings in nearly 30 trading days, which is about 2.129 billion shares of 17.5%, and the equity transfer involves about 14.5 billion yuan.

The announcement said that during the suspension, Shanghai real estate group and Shanghai Urban Investment Group conducted further demonstration on the above matters and carried out internal decision-making procedures. It is planned to employ CICC as the financial consultant of the share transfer, and further study and formulate the specific plan for the share transfer in the future. After the completion of the share transfer, it is expected that Greenland holding still has no controlling shareholder and actual controller, but the structure of control right may change greatly. The share transfer still needs to obtain the approval of the relevant state-owned assets supervision and management institutions, whether such approval can be obtained and the approval time is uncertain.

As of the first quarter of 2020, Shanghai real estate group held 3.142 billion shares of Greenland holdings, accounting for 25.82%, which was the second largest shareholder of Greenland holdings; Shanghai Urban Investment Group held 2.5 billion shares, accounting for 20.55%, which was the third largest shareholder; the combined equity of the two accounted for more than 46%. Shanghai real estate group and Shanghai Urban Investment Group are state-owned enterprise groups wholly owned by Shanghai SASAC. Zhang Yuliang, chairman and President of Greenland holdings, said that this is an important measure for Shanghai to promote the comprehensive reform of state-owned and state-owned enterprises and accelerate the reform of state-owned enterprises in the new stage, which fully shows the new reform idea of adjusting measures to local conditions and adapting to the circumstances. Through the introduction of new excellent strategic shareholders to listed companies, we can support enterprises to further improve the degree of marketization, enhance the freedom of operation and management, and accelerate the full release of reform vitality.

Greenland holdings was founded in 1992 and transformed into a modern joint-stock system with state-owned holding and employees holding shares in 1997; in 2013, it introduced strategic investors through the open market to form a mixed ownership system with cross shareholding and mutual integration of state-owned and multi-component capital, and realized the overall listing in 2015. Zhang Yuliang divided the process of the two mixed reforms into three stages: marketization, publicity and internationalization. Zhang Yuliang said that the environment that Greenland holdings faces each time of system and mechanism reform is different, but the general trend is to continuously deepen the connotation of mixed ownership, promote the diversification of enterprise equity, and make the system and mechanism more market-oriented, public and international. In the next step, Greenland holdings will further explore and optimize the operation and management mechanism suitable for the development of the enterprise, continuously optimize the employee stock ownership mechanism, promote the strategic partnership system, fully stimulate the employee motivation, and enhance the soft and hard power of the enterprise in terms of capital strength and governance level. (this article is from surging news, please download surging news app for more original information) source of this article: surging news editor: Li Zhaoyuan_ B7890

Greenland holdings was founded in 1992 and transformed into a modern joint-stock system with state-owned holding and employees holding shares in 1997; in 2013, it introduced strategic investors through the open market to form a mixed ownership system with cross shareholding and mutual integration of state-owned and multi-component capital, and realized the overall listing in 2015.

Zhang Yuliang divided the process of the two mixed reforms into three stages: marketization, publicity and internationalization. Zhang Yuliang said that the environment that Greenland holdings faces each time of system and mechanism reform is different, but the general trend is to continuously deepen the connotation of mixed ownership, promote the diversification of enterprise equity, and make the system and mechanism more market-oriented, public and international. In the next step, Greenland holdings will further explore and optimize the operation and management mechanism suitable for the development of the enterprise, continuously optimize the employee stock ownership mechanism, promote the strategic partnership system, fully stimulate the employee motivation, and enhance the soft and hard power of the enterprise in terms of capital strength and governance level.