Yonghui Superstores (SHA:601933) completed the sale of nearly half of its holdings in Chengdu Hongqi Chain (SHE:002697), according to a Shanghai Stock Exchange filing on Wednesday.
The Chinese supermarket operator sold 136 million shares or 10% of Hongqi Chain to Sichuan Shangtou Investment.
After the completion, Yonghui Superstores' stake in Hongqi Chain dropped to 11%, the filing said.
Yonghui Superstores' shares fell more than 5% in recent trade.
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