Rapoo Technology (002577.SZ) has revealed that its principal shareholder, Hotkey Electronics, intends to transfer 14,034,400 freely tradable shares, which constitute 5% of the company's total share capital, to Gaoyi Kaihua. The agreed price per share is RMB 16.28, culminating in a total transaction value of RMB 228 million. This share transfer is neither classified as a tender offer nor does it involve any related-party transactions. Furthermore, it will not lead to any alteration in the company's principal shareholder or ultimate controller. Gaoyi Kaihua has pledged not to sell these shares within 12 months following the transfer. Presently, the deal is still pending regulatory clearance from the Shenzhen Stock Exchange and the finalization of transfer registration procedures with the China Securities Depository and Clearing Corporation Limited.
