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Neway Valve Controlling Shareholder Pledges 1.5 Million Shares

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Neway Valve Suzhou (SHA:603699) controlling shareholder and actual controller Cheng Zhangwen pledged nearly 1.5 million shares, or 0.19% of total share capital, to Bank of Shanghai as financing guarantee for a controlled company.

The pledge runs until Sept. 6, 2027, according to a Tuesday filing with the Shanghai bourse.

Following the pledge, the controlling shareholder group and persons acting in concert collectively hold 60.72% of the company and have cumulatively pledged 12.2 million shares, or 1.58% of total share capital.

Shares of the industrial valve maker were down 1% in recent trade.

What else is happening in Asia?

Asia

GenFleet Presents Updated Lung Cancer Therapy Data at Korean Medical Conference

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HKG:2595
Asia

White Cliff Minerals Says Gina Rinehart's Hancock Prospecting to Take 13.5% Stake With Nearly AU$9 Million Investment

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ASX:WCN
Asia

Wafangdian Bearing Seeks Delisting As Public Float Falls Below 10%

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SHE:200706