Shenzhen Expressway to list 281m restricted shares

Shenzhen Expressway Group Co., Ltd. (SSE: 600548) is set to list and circulate 281,155,657 restricted A-shares on September 29, 2025. This follows the China Securities Regulatory Commission's approval for the targeted issuance of shares in December 2024. The total restricted shares for this listing originate from a private placement to specific investors, with 357,085,801 new shares registered on March 27, 2025.

Two major institutional investors will see their restricted shares released: Jiangsu Yunshan Capital Management Co., Ltd. and Anhui Wutong Expressway Co., Ltd. Jiangsu Yunshan will circulate 242,976,461 shares, representing 9.57% of the company's total share capital, while Anhui Wutong will circulate 38,179,196 shares, equivalent to 1.50%. These shares, totaling 11.07% of the company's share capital, were subject to a six-month lock-up period following the issuance.

After this circulation, Shenzhen Expressway's total unrestricted tradable shares will increase to 2,461,925,983, while restricted tradable shares will decrease to 75,930,144. This remaining restricted amount pertains to shares held by Xintongchan Industrial Development (Shenzhen) Co., Ltd., which are under an 18-month lock-up period.