HONG KONG, March 4, 2016 /PRNewswire/ -- National Agricultural Holdings Limited ("National Agricultural", or together with its subsidiaries, the "Group"; stock code: 1236.hk) has announced that its controlling shareholder, Parko (Hong Kong) Limited ("Parko"), has entered into separate sale and purchase agreements to purchase an aggregate of 17,400,000 shares of the Company from independent investors. This represents approximately 0.8% of the total issued share capital of the Company. Immediately after the completion of the abovementioned purchase, Parko's stake will increase from 53.1% to 54.01% of the entire issued share capital of the Company. National Agricultural had previously announced a possible increase in shareholding by the controlling shareholder, who has now proceeded with such plans, demonstrating its strong confidence in the outlook for the Group's internet finance business, and its resolve to lend stability to the Group amid market volatility.
On March 2, National Agricultural's controlling shareholder announced its intention to increase its stake in the Company in the open market, including but not limited to entering into agreement with institutional investors to acquire shares in the Group. This was based on its confidence in the Group's stable future development, the outlook for the Group's agricultural finance platforms, the government's support of the agricultural industry, and agricultural modernization policies. The controlling shareholder's prompt action to increase its stake underscores National Agricultural's position of strength in the volatile market, as well as the controlling shareholder's remarkable confidence in the Company's business.
Mr. Chen Li-jun, Chairman of National Agricultural, said: "National Agricultural constantly focuses on serving the 'agriculture, rural areas and farming' sectors, actively expanding its business in rural finance and e-commerce for 'agriculture sector, rural areas and farmers" nationwide. The potential move by the controlling shareholder to raise its stake not only reflects its confidence in our trading and internet finance business, but also underscores its support and recognition of National Agricultural under such market volatility -- in addition to its further commitment to the Company's long-term development. With the support of the controlling shareholder, the Company will continue to promote its business development and enhance investment returns for shareholders.
About National Agricultural Holdings Limited
National Agricultural Holdings Limited (1236.HK) is a rural market-based integrated company; its principal businesses include rural financial services, trading in agricultural means of production, urbanization planning, operation and management and high-tech information technology, etc. The Group developed "Agripay" cash settlement system with UnionPay Network and Agricultural Bank of China; and a trading platform for agricultural products with Guangzhou Exchange Group respectively; as well as developed related mobile applications with well-qualified third-parties. In line with the development of two flagship financial platforms, the Group is actively engaged in a number of acquisition projects, including Sino-agri Agricultural Machinery for developing agricultural machinery trading business, and Guangdong New Co-Op for strengthening agricultural product trading and urbanization related business, etc. The Group also actively promotes its framework of the nationwide online finance industry chain.
Currently, National Agricultural Holdings Limited is the only oversea-listed supply and marketing system in China and is soon expected to be beneficially held by All China Federation of Supply and Marketing Cooperatives directly under State council.
