Tianfeng Securities' ownership shifts after $4bn share issuance to Hongtai Group

Citic Huitong Securities has issued its continuous supervision opinion for the second quarter of 2025 regarding the acquisition of Tianfeng Securities by Hubei Hongtai Group. On June 12, 2025, Tianfeng Securities issued 1,476,014,760 new shares to Hongtai Group at RMB 2.71 per share. This transaction increased Hongtai Group's stake in the company from 15.90% to 28.14%, with its total holding, including its concerted parties, rising to 35.65%.

The share issuance triggered a tender offer obligation, which was waived by Tianfeng Securities' shareholders. The total raised capital from the issuance was RMB 3,999,999,999.60. After deducting issuance expenses, the net proceeds amounted to RMB 3,981,166,998.91.

Following the capital increase, Tianfeng Securities' registered capital increased from RMB 8,665,757,464 to RMB 10,141,772,224. The company's total shares also grew from 8,665,757,464 to 10,141,772,224. The shares were registered and restricted on June 19, 2025, and amendments to the company's articles of association regarding registered capital were approved by the board and are slated for a shareholder vote on July 17, 2025.