Rongsheng Petrochemical controlling shareholder increases stake above 61%

Rongsheng Petrochemical cancelled 136 million repurchased shares on July 18, reducing total share capital to 9.99 billion shares.

Controlling shareholder Rongsheng Holdings increased its stake by 33.6 million shares between June and July. Combined with the share cancellation, this pushed the controlling shareholder's total holding above 61% to 61.17%.

Rongsheng Holdings plans to buy another 1-2 billion yuan worth of shares within six months.