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Huafeng Measurement & Control has disclosed that its shareholder, China Times Vision Technology Co., Ltd., intends to divest 1.3556 million shares, equivalent to 1% of the company's total share capital, through a book-building mechanism to meet its own financial requirements. The bidding process attracted participation from 19 institutional investors, resulting in an effective subscription ratio of 1.41 times. After preliminary assessment, 16 institutional investors have been earmarked as the recipients of these shares. They are set to acquire the 1.3556 million shares at an initial price of RMB 388.98 per share. Notably, these recipients are bound by a lock-up period, during which they are prohibited from transferring the shares for a duration of six months following the acquisition.
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