Major Shareholder Affiliates of Grace Fabric Technology Plan to Sell Up to 3% Stake

Stock News06-09

Two entities affiliated with the controlling shareholder of Grace Fabric Technology Co.,Ltd. (SHSE: 603256) have announced plans to reduce their shareholdings in the company. According to a company announcement, SHARP TONE INTERNATIONAL LIMITED, citing capital requirements, intends to sell up to 9.0459 million shares, representing no more than 1% of the company's total equity, through block trading on the centralized bidding system.

Separately, another affiliated entity, UNICORN ACE LIMITED, also citing funding needs, plans to divest up to 18.0917 million shares, equivalent to no more than 2% of the total share capital, via block trades. Both entities are acting in concert with the company's controlling shareholder, Yuen Yick International Limited.

The combined maximum sale from these two parties amounts to 3% of Grace Fabric Technology Co.,Ltd.'s total issued shares. The company stated that the planned disposals are due to the shareholders' own financial planning and capital requirements.

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