Naipu Mining's top shareholders diluted by convertible bond activity

Jiangxi Naipu Mining Machinery And New Materials (SZSE:300818) announced a dilution of its controlling shareholder and actual controller's stake, as their holdings decreased from 53.37% to 48.24%. This change, exceeding 5%, occurred due to the conversion of convertible bonds ("Naipu Convertible Bonds") into company shares, increasing the total share capital. The company's total share capital increased from 70,000,000 shares to 162,635,930. While the stake was diluted, the number of shares held by the controlling shareholder increased due to equity distribution, and the controlling shareholder remains unchanged.