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SF Holding's Controlling Shareholder Sees Stake Dilution Following Share Placement With J&T Global

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SF Holding (HKG:6936, SHE:002352) said the shareholding of its controlling shareholder and concerted party passively diluted, crossing a 1% threshold, but it will not lead to changes in the company's control, according to a Shenzhen bourse filing on Wednesday.

The dilution came after the logistics company issued 225.9 million new H shares to J&T Global Express (HKG:1519), leading to the company's total shares increasing to 5.27 billion shares from 5.04 billion shares.

The stake of the controlling shareholder, Shenzhen Mingde Holding Development, and the concerted party, Shenzhen Weishun Enterprise Management, was diluted to 46.76% from 48.85%.

SF's Shenzhen shares rose over 2% during the morning trade, while J&T's shares also rose 2%.

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