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three years after its listing, sanno biopharma saw another large-scale reduction in holdings, and shareholders cashed out and left the market

2024-09-08

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sinobio, a company listed on the science and technology innovation board for more than three years, recently announced that one of its shareholders, lepu medical, plans to reduce its holdings of no more than 2% of the company's shares, or up to 2.24 million shares, through centralized bidding and block trading to meet its own funding needs. the reduction plan is expected to be implemented between september 27 and december 26. based on the closing price on september 4, lepu medical expects the maximum cash out amount to reach 66.528 million yuan.

since the listing of sirno biopharmaceuticals, the company has experienced share reduction by major shareholders on several occasions. in addition to lepu medical, other shareholders who have reduced their holdings include the company's actual controller and its persons acting in concert, suzhou rongtuo and its persons acting in concert, as well as several directors, supervisors and senior management. some shareholders immediately proposed large-scale share reduction plans after the stock ban was lifted.

in the recent shareholder reduction activities, lepu medical, as the second largest shareholder, is not the first time to reduce its holdings of sino biotech shares. specifically, in the third quarter of 2023, lepu medical sold 2.9106 million shares in three trading days through rapid reduction, accounting for 2.60% of the total share capital of sino biotech. the transaction cashed out a total of approximately 77.8456 million yuan, with an average reduction price of 26.74 yuan per share. after this reduction, lepu medical's shareholding ratio in sino biotech dropped from 8.10% to 5.50%.