The shareholder’s stake in the listed company decreased substantially from 5.9976% to 4.0405%, primarily through inquiry transfer transactions involving 18.93 million shares. This reduction represents a strategic move by the shareholder to adjust their position in the company, potentially for portfolio rebalancing or capital allocation purposes.
In addition to the active reduction via inquiry transfer, the shareholder’s ownership percentage was further impacted by passive dilution. This occurred as the company’s total equity capital increased, likely through new share issuances or convertible bond conversions, which proportionally reduced all existing shareholders’ stakes without any actual sale of shares by this particular investor.
The combined effect of active selling and passive dilution has reduced the shareholder’s influence below the 5% threshold that typically triggers additional disclosure requirements in many jurisdictions. Market participants will monitor whether this represents an isolated adjustment or the beginning of a broader divestment strategy, particularly given the simultaneous changes in the company’s convertible bond positions.
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