On May 19, the securities sector fell by 0.09% as a whole, but Founder Securities Co.Ltd(601901) rose by 3.78%, ranking first in the sector.
On the news side, Founder Securities Co.Ltd(601901) announced that the Dalian intermediate people’s court made an enforcement ruling according to law, ruling to recover and confiscate the 1.09 billion shares of the company held by Zhengquan holdings and transfer them to the National Social Security Fund Council. As disclosed in the announcement, Zhengquan holdings holds 1.09 billion shares of the company, accounting for 13.24% of the total share capital of the company. Estimated at the closing price of 6.32 yuan / share on May 19, the total market value of the above shares transferred to the Social Security Fund Council is nearly 7 billion yuan.
As all the Founder Securities Co.Ltd(601901) shares held by Zhengquan holdings were written off to the “state treasury”, the outstanding equity problems that have plagued Founder Securities Co.Ltd(601901) for many years have been solved.
The equity dispute between Founder Securities Co.Ltd(601901) and Zhengquan holdings dates back to 2014, when Founder Securities Co.Ltd(601901) merged with national securities, and Zhengquan holdings, the controlling shareholder of national securities, became the second shareholder of Founder Securities Co.Ltd(601901) with a total of 1.8 billion shares, accounting for 21.86% of the total share capital of the company. Shortly thereafter, Zhengquan holdings withdrew 2.05 billion yuan of funds from national securities for investment and exposure, and its 1.8 billion Founder Securities Co.Ltd(601901) shares were frozen according to law. Among the above frozen shares, 710 million shares (accounting for 8.62%) were distributed to China Cinda according to law.
It is worth noting that the remaining 1.09 billion shares held by Zhengquan Holdings (accounting for 13.24%) were put on the “Alibaba auction” for the first time for public auction in June last year, but they were finally sold. The second auction held at the end of July last year also ended in streaming auction.
As of March 31 this year, the top five shareholders of Founder Securities Co.Ltd(601901) were Founder group, Hong Kong Central Clearing Corporation, Zhengquan holdings, China Cinda and Harbin Hatou Investment Co.Ltd(600864) , with shareholding ratios of 27.75%, 15.75%, 13.24%, 8.62% and 2.37% respectively.
In addition to Zhengquan holdings, Founder Securities Co.Ltd(601901) controlling shareholder Founder group is also undergoing restructuring. According to the reorganization plan, all the shares of Founder Securities Co.Ltd(601901) held by Founder group and its persons acting in concert will be transferred to new Founder group. The shareholding structure of new Founder group is that Ping An Life Insurance, a subsidiary of Ping An Insurance (Group) Company Of China Ltd(601318) group, holds 66.5% of the SPV and Zhuhai HUAFA holds 28.5% of the SPV. In other words, Ping An Insurance (Group) Company Of China Ltd(601318) as the controlling shareholder of Ping An Life Insurance, will indirectly control Founder Securities Co.Ltd(601901) .
