[ET Net News Agency, 25 May 2018] China Everbright Limited (00165) said it disposed of
an aggregate of 157 million A shares in Everbright Securities (EBS) (06178) (representing
about 4.02% of the existing issued EBS A shares and about 3.41% of the existing entire
issued EBS shares) for a total of Rmb1,957 million (about HK$2,407 million) through the
Shanghai Stock Exchange block trading system after normal trading hours at an average
selling price of about Rmb12.47 (about HK$15.33) per EBS sale share, during the period
between 11 September 2017 and 24 May 2018.
After such disposals, China Everbright Limited will be interested in 982 million EBS A
shares (representing about 25.14% of the existing issued EBS A shares and about 21.3% of
the existing entire issued EBS shares).
The Group has recognized a gain before tax of about HK$294 million (audited) for the
year ended 31 December 2017 and the Group is expected to recognize a gain before tax of
about HK$89 million (unaudited) for the year ending 31 December 2018 from the disposals.
It is the current intention of China Everbright that the proceeds arising from the
disposals will be used by the Group as general working capital. (HL)