<a href="https://laohu8.com/S/WLMTF">Wuling Motors</a> Holdings Limited Announces Corporate Reorganization with Guangxi Guokong Acquiring 80% Equity in Indirect Controlling Shareholder
Wuling Motors Holdings Limited has announced a corporate reorganization involving its indirect controlling shareholder, Guangxi Automobile Holdings Limited. In line with the policy set by the Guangxi Zhuang Autonomous Region Party Committee and Government, 80% of equity held by Guangxi SASAC in Guangxi Automobile will be transferred to Guangxi Guokong Capital Operation Group Co., Ltd., a state-owned enterprise, for nil consideration. This reorganization aims to optimize the structure of state-owned capital. Post-reorganization, Guangxi Automobile will still control 56.54% of Wuling Motors. The Securities and Futures Commission has waived Guangxi Guokong's requirement to make a general offer for Wuling's shares due to this reorganization.
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