Geely transfers entire equity interest in Proton

PETALING JAYA: Zhejiang Geely Holding Group Co Ltd’s (Geely) wholly-owned subsidiary, Geely International (Hong Kong) Ltd (GIHK) has completed the transfer of its entire equity interest in Proton Holdings Bhd.

In a filing with Bursa Malaysia, DRB-HICOM said the transfer comprised 547.2 million ordinary shares, representing 49.9% equity interest in Proton to its affiliate, Linkstate Overseas Ltd, pursuant to the completion of an internal restructuring in Geely group.

“The transfer of Proton shares from GIHK to Linkstate will not have any effect on the net assets, earnings, gearing, share capital, shareholding structure and substantial shareholders’ shareholdings of the DRB-HICOM group for the financial year ending Dec 31, 2023.