SF Holdings (06936) plans to spend up to 305 million yuan to subscribe for Fengchao shares to deepen the last-mile logistics strategy

Zhitong Finance App News, SF Holdings (06936) announced that Liangyue, an indirect wholly-owned subsidiary of the company, plans to exercise priority subscription rights under Fengchao Class A common stock issuance and may exercise excessive priority subscription rights at its discretion.

According to the announcement, basic priority subscription purchases approximately 468.291 million Fengchao Class A common shares at RMB 2.8489 per share, with a corresponding price of RMB 133 million; if all priority and excess priority subscription rights are exercised, the maximum total consideration for the transaction is RMB 305 million. Assuming that Liangyue will use the excess priority subscription right to subscribe for Fengchao Class A common shares of the above amount, Liangyue will hold up to 107 million shares of Fengchao shares, accounting for 10.03% of Fengchao shares.

Fengchao is mainly engaged in last-mile logistics solutions and integrated lifestyle services. The subscription process will enable the company to maintain its influence on the development of Fengchao's service network, technology and user base. The board of directors believes that the subscription matters are in line with the Group's strategy to deepen participation in the last-mile logistics ecosystem and enhance overall competitiveness through diversified logistics services.

The subscription will be disbursed from its own funds or the Group's own funds, and is not expected to have a significant adverse impact on the Group's financial position. The directors believe that the subscription matters are beneficial to the long-term development of the Group and conform to the overall interests of the company and shareholders.