Rui Feng Green Energy AI Computing Says Convertible Bond Holder Becomes Largest Shareholder

Rui Feng Green Energy AI Computing (00527) said it received a conversion notice from Great Praise Investment SPC-Growth Engine Fund SP, an independent portfolio set up by Great Praise Investment SPC, according to ETNet. The holder exercised conversion rights on HK$98 million of convertible bonds at HK$0.196 per share, and the company issued 500 million conversion shares. The new shares account for about 20.54% of the enlarged share capital, making the fund the single largest shareholder. Executive Director and Chief Executive Zhang Zhixiang, together with independent non-executive directors Jiang Senlin and Qu Weidong, saw their combined stake diluted from 11.53% to 9.16%. Atlantis New Hong Kong Equity Fund Limited's holding was diluted from 6.17% to 4.9%.