Global China decreases shareholding of Sing Tao to maintain public shareholding

Global China Technology Group (1105) and Sing Tao Holdings (0233) issued a joint statement and said that considering that the public shareholding of Sing Tao was less than 25, Global China Technology decided to sell 31.576 mln shares of Sing Tao to two buyers. The batch of shares, at HK$1.65 each, accounted for 7.5% of the issued shares and registered a premium of 8.6% over the closing price yesterday.

Global China Technology reduced its shareholding in Sing Tao from 82.4% to 74.8% after the deal, while the public shareholding was lifted from 17.6% to 25.2%.

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