Core Viewpoint - Anhui Shuguang Chemical Group Co., Ltd. is undergoing its first round of IPO review on the Shanghai Stock Exchange, with a focus on the rationale behind its actual controller having 67 concerted actors, which may be the highest number in A-share IPO history [1][3]. Group 1: Actual Controller and Shareholding Structure - The actual controller, Yu Yongfa, directly holds 19.56% of the shares and, through agreements with 67 other shareholders, controls 79.16% of the voting rights [3]. - The company has a total of 193 shareholders, all of whom are natural persons, with Yu Yongfa and the 67 concerted actors accounting for 35.233% of the total shareholder count [1][3]. - The review center has requested explanations regarding the rationale for the agreement with the 67 individuals, the recognition of Yu Yongfa's control by other shareholders, and measures to stabilize control [3][21]. Group 2: Historical Shareholding Changes - Since the equity diversification reform in July 2004, Yu Yongfa's shareholding has undergone several changes, including a significant increase in the number of shares held and the introduction of trust agreements to consolidate voting rights [15][18]. - By the end of 2007, Yu Yongfa's nominal shareholding reached 80.64%, with a substantial portion held in trust for other shareholders [9][10]. - The company has consistently utilized trust agreements to maintain control and governance stability, with the latest agreements signed in 2023 to formalize the control structure [15][20]. Group 3: Governance and Board Control - Yu Yongfa has recommended over half of the board members, and all proposed members have been approved by the board and shareholders [23][24]. - The company has held multiple shareholder meetings where Yu Yongfa's proposals have consistently received majority support, indicating a stable governance structure [25][26]. - The signing of the concerted action agreements with the 67 shareholders aims to ensure unified voting and control over the company’s governance [21][26].
一致行动人最多的IPO案例！67名！
Sou Hu Cai Jing·2025-08-13 08:38