news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

After 25 years of listing, *ST Yaxing (600213) has entered the countdown to delisting.

On the evening of August 14, *ST Yaxing issued a reminder announcement that there was still one trading day left before the company's stock was suspended. The company's stock will be suspended from the opening of the market on August 16 (Friday). On the afternoon of August 14, *ST Yaxing held an investor briefing on the termination of listing in an interactive online manner.

As the controlling shareholder of *ST Asia Star, why did Weichai (Yangzhou) Investment Co., Ltd. (hereinafter referred to as "Weichai (Yangzhou)") set the price of the cash option at 6.42 yuan per share? This is a question that investors are very concerned about. In response, *ST Asia Star said:

The current exercise price of the cash option is 6.42 yuan per share, which is a premium of approximately 12% over the arithmetic average of the daily weighted average prices of 5.75 yuan in the 30 trading days before the termination of listing and a premium of approximately 10% over the closing price of 5.84 yuan per share on the last trading day before the suspension. "This pricing is the result of the company's decision after comprehensive consideration of regulatory requirements, past cases, and protection of investor interests."

Some investors have suggested that some people purchased stocks at high prices, which were significantly higher than the price of the cash option. If they voted against the plan at the shareholders' meeting, would it make the existing plan impossible to implement?

In response to this, *ST Yaxing said that the termination of listing (including the exercise price of the cash option) has been approved by the superior state-owned shareholder unit and is still awaiting approval by the shareholders' meeting. According to the "Shanghai Stock Exchange Listing Rules", if the company's audited net assets at the end of 2024 are negative, the company's shares will be delisted by the Shanghai Stock Exchange. If the "Proposal on Actively Terminating the Company's Stock Listing by Resolution of the Shareholders' Meeting" fails to be approved by the shareholders' meeting, it may harm the interests of small and medium shareholders. Shareholders are requested to make careful decisions when voting at the shareholders' meeting. "If the shareholders' meeting cannot pass the "Proposal on Actively Terminating the Company's Stock Listing by Resolution of the Shareholders' Meeting", the dissenting shareholders and other shareholders of this shareholders' meeting will not be able to obtain cash options."

In response to questions about the reasons for the termination of listing, *ST Asia Star further emphasized that based on the current market environment and the development of the bus industry, the company's controlling shareholder proposed to implement an active delisting. "Compared with forced delisting, it is more conducive to protecting the interests of small and medium shareholders, stabilizing the order of the capital market, and reflecting the responsibility of state-owned enterprises."

Editor: Peng Bo

Proofreading: Ran Yanqing

The public online voting for the 18th China Listed Company Value Selection hosted by Securities Times is in full swing!

Investors are welcome to vote for your favorite listed companies or listed company executives. Voting starts and ends from August 8 to August 18, 2024.

For more event details, please follow "e Company".