Zhejiang Shibao's Controlling Shareholder Plans to Sell Up to 3% Stake

Stock News04-27

Zhejiang Shibao Company Limited announced that it has received a notification letter from its controlling shareholder, Zhejiang Shibao Holding Group Co., Ltd., regarding a planned share reduction. The shareholder intends to sell up to approximately 24.679 million A-shares, representing no more than 3% of the company's total share capital, over a three-month period starting 15 trading days after the announcement date. The sale window is set from May 22, 2026, to August 19, 2026, excluding sensitive periods. Of the total, up to about 8.2263 million A-shares, or 1% of the total equity, will be sold through centralized bidding, while the remaining 16.4526 million A-shares, equivalent to 2%, will be disposed of via block trades.

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