Major Shareholder Zhaofeng Zhao Reduces Stake Below 5% via Estate Planning Transfer

summarizeSummary

Zhaofeng Zhao, a significant beneficial owner of Bitdeer Technologies Group, transferred 5.5 million Class A ordinary shares for estate planning, reducing his reported stake to 4.92% and ceasing to be a >5% beneficial owner.

check_boxKey Events

• Significant Share Transfer

  Shinning Stone Invest Co., Ltd., wholly owned by Zhaofeng Zhao, transferred 5,500,000 Class A ordinary shares to Amazing Radiant Limited on April 17, 2026. This transaction, valued at approximately $71.6 million based on today's stock price, was for no consideration and related to Mr. Zhao's estate planning.

• Ownership Falls Below 5%

  Following the transfer, Zhaofeng Zhao's beneficial ownership of Class A ordinary shares decreased to 9,402,764 shares, representing 4.92% of the outstanding Class A shares. As a result, the reporting persons ceased to be beneficial owners of more than 5% of the company's Class A ordinary shares.

• Amendment to Prior Filings

  This filing is Amendment No. 2 to the initial Schedule 13D filed on May 31, 2023, and Amendment No. 1 filed on March 27, 2024, providing an update on the beneficial ownership of Mr. Zhao.

auto_awesomeAnalysis

This Schedule 13D/A reports a significant disposition of shares by Zhaofeng Zhao, a key beneficial owner of Bitdeer Technologies Group. While the transfer of 5.5 million Class A ordinary shares was for no consideration and related to estate planning, it results in Mr. Zhao's reported beneficial ownership falling below the 5% threshold. This is a material change in the company's ownership structure, as a major holder is reducing their reported stake, which can be interpreted as a slight negative signal for investor confidence, even if not a direct market sale.