Rongsheng Petrochemical's controlling shareholder plans further stake increase

Rongsheng Petrochemical (SZSE:002493) announced that its controlling shareholder, Rongsheng Holding Group, plans to increase its stake in the company. The planned increase will involve an investment of no less than CNY 1 billion and no more than CNY 2 billion. Rongsheng Holding currently holds 5,382,659,734 shares, representing 53.16% of Rongsheng Petrochemical's total share capital. The implementation period for the stake increase is set for six months, commencing April 8, 2025. The stake increase will be funded through a combination of Rongsheng Holding's own funds and a special loan, with the loan portion not exceeding 90% of the total investment. The company has obtained a commitment letter from the Industrial and Commercial Bank of China (ICBC) for a loan of up to CNY 1.8 billion to support the stake increase. Rongsheng Holding has committed not to reduce its existing holdings in Rongsheng Petrochemical during the implementation period.