Zhitong Finance App News, Haitong Hengxin (01905), the domestic stock offender Shanghai State-owned Assets Management Co., Ltd., and the H share offender Shanghai International Group (Hong Kong) Co., Ltd. jointly announced that the domestic stock offender will submit a voluntary cash partial offer with preconditions to acquire about 1,245 billion domestic shares from domestic shareholders (accounting for about 51.00% of the domestic shares issued and 15.12% of the issued shares on the date of this joint announcement); the joint financial adviser will submit a voluntary partial cash offer with preconditions on behalf of H share bidders to all shares H share shareholder acquisition agreement 2,955 million H shares (accounting for approximately 51.00% of issued H shares and 35.88% of issued shares on the date of this joint announcement). The offer price of each domestic share is RMB 1.85 in cash and HK$2.16 in cash for each H share, a premium of about 80.0% over the closing price of H shares of HK$1.20 per H share on the last trading day. The total cash cost payable by domestic stock bidders under part of the domestic stock offer was approximately $2.03 billion, and the total cash cost payable by the H share offeror under the H share partial offer was approximately HK$6.383 billion.
Furthermore, the company has applied to the Stock Exchange to resume trading of H shares and notes from 9:00 a.m. on October 26, 2026.
According to reports, both domestic stock bidders and H share bidders are direct wholly-owned subsidiaries of Shanghai International Group, and the ultimate beneficial owner of Shanghai International Group is the Shanghai State-owned Assets Administration Commission. As of the date of this joint announcement, Shanghai International Group held approximately 20.46% of Cathay Pacific Haitong's shares.
As the main state-owned investment platform in Shanghai, Shanghai International Group will be able to use its strong resource mobilization capabilities, industry relationships and policy support to provide the Group with a platform to help the Group further increase its market share through endogenous and epitaxial methods. As a strong strategic shareholder, Shanghai International Group is committed to providing the Group with resources to accelerate business growth, enable the Group to expand its business scale and strengthen its market position. Shanghai International Group will also support the Group as a core platform in due course to promote the potential optimization and integration of municipal state-owned financial leasing companies in order to establish the Group as a leading state-owned financial leasing enterprise with clear market positioning and unique value propositions.