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On February 9th, Seres (601127) disclosed that it had entered into an agreement with the Shapingba District Government of Chongqing on February 8th. The agreement outlines the establishment of a new target company, leveraging the existing assets associated with Landian Automobile. As part of this arrangement, the Shapingba District Government will introduce investment funds and make other cash contributions to facilitate a capital increase.
Following the capital increase, the Shapingba District Government's relevant entity is expected to hold approximately 33.5% of the shares. Seres and its designated entities will retain around 32% of the shares, while other investors will collectively hold approximately 18.5%. Additionally, the employee stock ownership platform will secure approximately 16% of the shares.
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