Hubei Energy gets CSRC nod for Changjiang Securities stake sale

Hubei Energy Group (SZSE:000883) announced that the China Securities Regulatory Commission (CSRC) has accepted its application for the administrative license related to the proposed transfer of its shares in Changjiang Securities. The application,受理序号:241237, was officially accepted by the CSRC. The company plans to transfer 529,609,894 shares, representing 9.58% of Changjiang Securities' equity, to Changjiang Industrial Investment Group at a price of RMB 8.20 per share. The proposed transaction, approved by Hubei Energy’s board and shareholders in March and June of 2024, is still subject to CSRC approval, creating uncertainty regarding its completion. Hubei Energy has advised investors to be aware of potential investment risks.