Sichuan Road & Bridge shareholder to pledge stock for bond issue

Sichuan Road & Bridge (SSE:600039) announced that its controlling shareholder, Shudao Investment Group, intends to pledge 500,000,000 of its shares to a trustee as part of a non-public offering of exchangeable corporate bonds. The total value of the planned offering is not to exceed CNY 5 billion. This pledge will serve as collateral for bondholders to exchange for shares and ensure debt repayment. After the pledge, Shudao Investment Group's total pledged shares will increase to 905,803,310, representing 13.07% of its holdings and 10.40% of the company's total share capital. The company stated that the pledge is not expected to pose significant risks to its operations or corporate governance.