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Yida China restores public float in Hong Kong

Yida China Holdings Ltd. said it restored its public float in Hong Kong as three executive directors of all the company's subsidiaries stepped down, following Jiayou (International) Investment Ltd.'s mandatory unconditional takeover cash offer.

The company's public float had reached approximately 17.20% of its total issued shares, or 444,418,250 shares, immediately after the completed offer, falling short of the minimum 25% required for a listing in Hong Kong.

Following the resignations of Yinhuan Sun, Yinfeng Sun and Hongyu Wen on March 30, public ownership of the company's shares amounted to 857,818,250 shares, representing approximately 33.20% of all issued shares and allowing the company to restore its public float.