Hainan Development controlling shareholder reaches halfway point in share increase

Hainan Development announced its controlling shareholder, Hainan Province Development Holdings, and associate Hainan Financial Holdings have reached the halfway point in their share increase plan initiated in May.

The companies have acquired 9.8m shares for 89m yuan through centralized bidding, representing 1.16% of total share capital. Their combined ownership now stands at 31.85%.

The original plan targets share acquisitions worth between 100m and 200m yuan.