Pagoda Industrial Gets China Approval to Convert 85 Million Shares into Hong Kong Shares
MT Newswires Live
Oct 21
Shenzhen Pagoda Industrial (HKG:2411) said it has received official confirmation from the China Securities Regulatory Commission (CSRC) approving its application for H-share full circulation, according to a Monday Hong Kong bourse filing.
Shares of the fruit retailer were down over 4% in Tuesday morning trade.
The approval covers the conversion of 85.4 million unlisted domestic shares held by three shareholders into the same number of H-shares on a one-to-one basis.
Once the conversion and subsequent listing are completed, the new H shares will be listed and traded on the Hong Kong bourse's main board, the filing said.
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