China Merchants Group boosts Antong Holdings stake to 15%

China Merchants Group affiliates have increased their stake in Antong Holdings by 1.20% through centralized bidding worth RMB 159 million, funded by own and borrowed capital.

The acquisition brings China Merchants Group's total holdings to 15% of Antong Holdings' share capital. This follows a previously announced plan to increase holdings by up to RMB 720 million at a maximum price of RMB 3.20 per share.

The acquirers committed not to reduce their holdings for 18 months post-acquisition.