Foshan Lighting to release restricted shares in June

Foshan Electrical and Lighting (SZSE:000541) announced the upcoming release of restricted shares for listing and circulation, effective June 4, 2025. A total of 46,695,895 shares, previously subject to lock-up periods following a private placement completed in December 2023, will become tradable. These shares account for 3.04% of the company's total equity. The shares were issued to 13 specific investors, including controlling shareholder Guangdong GuangSheng Holdings. GuangSheng Holdings' shares were subject to an 18-month lock-up, while other investors faced a 6-month restriction. GuangSheng Holdings' is the only holder with restricted shares that are about to be listed. There have been no changes to the shares since issue. The company has confirmed it is in compliance with related regulations and shareholder commitments regarding the share release. Guotai Junan Securities, the underwriter, stated there were no objections.