On December 28, Highlander issued an announcement, proposing to issue 79,552,100 shares at a price of 12.5 yuan per share to Shenzhen SEZ Construction and Development Group, raising 994 million yuan for replenishment of working capital and repayment of interest-bearing liabilities.
 
Upon the completion of the implementation of the above matters, the voting shares held by SEZ Construction and Development will account for 24.15% of the total share capital of the company, which will actual control over the company.
 
SASAC of Shenzhen is the sole shareholder of Shenzhen SEZ Construction and Development. The company's shares resumed trading on December 29.
 
After the implementation of the change of control plan, the proportion of shares held by SEZ Construction and Development is 16.65% and the voting rights corresponding to 7.50% of the shares of the listed company is 24.15% of the total share capital of the listed company. Shen Wanqiu holds 16.04% of the company's shares, and its voting shares account for 8.54% of the company's total capital. Shenzhen SEZ Construction and Development Group has the control right to the listed company.
 
Source: Sarah Yu,XINDE MARINE NEWS

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