SINGAPORE:

In a bold move poised to reshape its investment strategy, Yangzijiang Financial has officially divested its treasury holdings of 193,527,600 common shares at $0.72 each, totaling a whopping $139.3 million. This transaction was executed through two share sale and purchase agreements with Merlion Quay Capital Ltd and Operie Capital Ltd, according to an announcement made by the company.

This significant divestiture sees Yangzijiang Financial releasing over $70 million in value, effectively more than doubling the initial acquisition cost from its treasury share buyback program where these shares were repurchased at approximately $0.34 per share. The finalization of the deal is expected by June 26, 2025.

Ren Yuanlin, the CEO and Executive Chairman of Yangzijiang Financial, expressed enthusiasm about the sale, stating, "Once the proposed sale is finalised, it will enhance our capital base to double down investments into the promising maritime industry." The excitement in the maritime sector is palpable as the company positions itself to tap into the promising future driven by industry dynamics, particularly in response to increasing decarbonisation efforts.

The proceeds from this strategic sale are set to significantly bolster Yangzijiang Financial's core marine operations. This comes at a critical time as the maritime industry is actively seeking innovative solutions in alignment with global sustainability goals. The company plans to leverage these funds not only for essential operational support but also as a means of capital appreciation, potentially utilizing them for bank deposits or other cash management strategies.

As Yangzijiang Financial aims to expand its footprint in the maritime space, industry watchers will be keenly observing the forthcoming developments and how this strategic augmentation will influence the company's long-term growth trajectory in an ever-evolving global maritime landscape. Stay tuned for more updates!