MEXAN (00022) announced that its controlling shareholder, Winland Wealth (BVI) Limited, has completed the placement of its entire shareholding. The board was notified by the seller that the placement agreement has been fully executed, with all 1.327 billion shares—representing approximately 67.47% of the company's issued share capital and constituting the seller's entire pre-completion stake—successfully allocated to no fewer than six placees by the placing agent. Settlement for all placed shares occurred on April 9, 2026.

According to the placing agent, each placee confirmed their independence from the seller, the company, and any parties acting in concert with them, with no connected relationships or coordinated actions. Under the placement agreement terms, no placee (individually or with concert parties) may hold 30% or more of the company’s total issued share capital post-completion.

Following the transaction, the seller no longer holds any shares in the company and ceases to be its controlling shareholder. The placing agent further disclosed that two placees—Mr. Chen Jixiang (an independent third party prior to completion) and Max Premier Limited (also an independent third party, ultimately beneficially owned by Mr. Chen)—acquired a combined stake representing approximately 17.64% of the issued share capital. Consequently, Max Premier Limited and Mr. Chen have become major shareholders of the company upon completion.