SF Holding (SHE:002352) completed the issuance of 225.9 million new H shares to J&T Global Express (HKG:1519) at HK$36.74 per share on Tuesday, following the satisfaction of all conditions, including exchange approval.

The transaction was part of a mutual share subscription agreement initially announced in January, where SF also subscribed to newly issued shares of J&T Express, according to a Shenzhen Stock Exchange filing on Wednesday.

After the issuance, SF's total outstanding shares rose to approximately 5.27 billion, with J&T Express becoming a 4.29% shareholder in SF.

The H share issuance generated net proceeds of about HK$8.29 billion, while Mingde Holding remained the largest shareholder with a 46.76% stake.