Dragon Wing Aviation's Major Shareholder Reduces 300M Shares to SBI Fund, 2.91% Discount

According to an official announcement, Dragon Wing Aviation (0918.HK) disclosed that Always Profit Development Limited, a company wholly-owned by Chairman Zhang Jinbing, agreed to sell 300 million shares representing 26.93% of total share capital to SBI China Fund LP on July 15. The shares were priced at HK$1.00 each, a 2.91% discount to the previous closing price of HK$1.03, with total transaction value of HK$300 million. Following completion, the seller's stake will decrease to 20.40% and its voting rights will fall below 30%, resulting in loss of controlling shareholder status.
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