Changhong Jiahua Holdings Ltd. has announced a proposal for its privatization through a scheme of arrangement. As part of this process, the company plans to withdraw its listing from the Stock Exchange of Hong Kong. The scheme involves the conversion of existing Preference Shares and Ordinary Shares, with Changhong Group playing a significant role in the restructuring, holding approximately 23.22% of the company's issued share capital. The next step in the process involves the establishment of an Independent Board Committee to oversee the privatization and delisting. Trading of the company's shares is set to resume following this announcement.
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