Chinese automaker JAC's controlling shareholder plans to increase stake by up to 100 million yuan

Beijing (Gasgoo)- On April 8, Anhui Jianghuai Automobile Group Corp., Ltd. (JAC) announced that its controlling shareholder, Anhui Jianghuai Automobile Group Holdings Co., Ltd., intends to increase its holdings in the company by no less than 50 million yuan and up to 100 million yuan within the next six months.

Photo credit: JAC

The planned share purchase will be made using self-owned funds through centralized bidding on the Shanghai Stock Exchange. The decision reflects the shareholder's confidence in the capital market outlook and the company's future development prospects.

As of the announcement, the controlling shareholder holds 615 million shares, accounting for 28.18% of JAC's total 2.184 billion outstanding shares. The planned share acquisition does not set a fixed price range and will be adjusted based on stock price movements and broader market trends.

JAC emphasized that the share increase will not affect the company's listing qualifications or lead to a change in actual control. The controlling shareholder has also pledged not to reduce its holdings during the implementation and statutory lock-up period.