Bosideng International Chair's Firm to Cut Stake in Company

MT Newswires Live07-04

New Surplus International Investment entered a block trade agreement to sell 400 million Bosideng International Holdings (HKG:3998) shares at HK$4.31 apiece, according to a Wednesday filing with the Hong Kong bourse.

New Surplus International Investment is indirectly wholly owned by a trust established by Gao Dekang, the founder, chairman of the board, and a controlling shareholder of the group.

The transaction, representing 3.64% of Bosideng's total share capital, will see New Surplus International Investment's stake reduced to 11.96% from 15.60%, the filing said. Gao will continue to be a controlling shareholder of the group.

Price (HKD): $4.01, Change: $-0.76, Percent Change: -15.93%

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