Red Star Macalline: Restructuring approved, equity stake diluted

Red Star Macalline Group Corp (SSE:601828) announced a dilution of its second-largest shareholder, Red Star Holdings' stake, following court approval of its restructuring plan. As per the restructuring plan, the stake held by Red Star Holdings will decrease from 22.512% to 18.941%, reducing its holdings from 980,325,353 shares to 824,831,858 shares. Consequently, the combined holdings of Red Star Holdings and its persons acting in concert also decreased, moving from 23.514% to 19.943%, equating to a reduction from 1,023,955,993 shares to 868,462,498 shares.