Business· Retail· Commercial & Professional Services

Alibaba becomes Meinian Onehealth’s second-largest owner with 10.82% shares

minutes 2019/10/28 09:09:05
Meinian Onehealth, Alibaba, share transfer

Oct 28, 2019 (China Knowledge) - 25 Oct, Meinian Onehealth (002044) announced in the company’s shareholders meeting that it had signed agreements to transfer 605 mln shares, or 16.16% of the company’s total shares, to Alibaba’s companies which include Alibaba China Network Technology and Hangzhou Xintou Information and Technology, and another party Shanghai Qijun Investment at RMB 12.01 per share.

Before the major shares sale, the controlling shareholder of the company was Shanghai Tianyi Asset Management which held 355 mln shares, accounting for 9.5% of the total shares of Meinian OneHealth. Yu Rong, the chairman and controller of the company, and his concerted parties held 1.4 bln shares of the listed company, accounting for 37.61% of the company’s total shares.

After the transaction, Tianyi Asset still holds 236 mln shares, reduced to 6.31% of the total shares. Tianyi Asset still remains the controlling shareholder of the company. The transaction will not have any financial impact and will cause any change in the control rights of the company.

At last count, Ali China Network and Hangzhou Xintou will hold 10.82% of the company’s shares, making Alibaba (BABA) the second-largest shareholder of the company while Shanghai Qijun Investment will hold 5.34%.

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