Calculating new share ownership26 Aug 2021 13:43
This is a rough calculation I’ve done to figure out what ownership ganfeng will have of ZNWD and what percentage will go to new/existing retail investors
So bcn currently holds a total of 90,619,170 shares in znwd
According to simply Wall Street 34% of bcn is owned by retail investors so 34% of bcns holding in znwd goes to us ie 32,169,804 shares not to be sniffed at.
The confusing part which I’m not quite sure on is obviously ganfeng owns approx 29% of bcn prior to takeover and I suppose the rest is made up of institutions I assume the institutions either sell to ganfeng (worst case), or keep their shares and then own part of znwd (best case)
So say it’s 29% ganfeng end up with pre takeover that would be 26,279,559 shares.
Total shares in issue is 255,105,953 from last total voting rights which means ganfengs percentage holding if they only manage to stick to 29% would be ganfengs holding 26mil divided by total shares in issue 255mil if my calculations are correct that means ganfeng will own approximately 0.1%
So say ganfeng got all the shares they could excluding retail investors that would be 66% of 255mil ie 168.3mil
168.3 mil divided by 255 = 0.66% ownership
Can’t help but think I’ve got this wrong but it’s first time I’ve done these calculations anyone with a bit more experience feel free to correct me if I’m wrong