Ningbo Tuopu's Chairman, Vice Chairman to Trim Stakes in Company; Shares Down 3%

MT Newswires Live06-17

Ningbo Tuopu's (SHA:601689) chairman and vice chairman plan to dispose of part of their holdings in the company, according to a Shanghai bourse disclosure on Tuesday.

Chairman Wu Jianshu Vice Chairman plans to offload up to 2,999,182 shares, or 0.1726% of his holdings, while Wu Haonian, who's also the son of Wu Jianshu, will divest up to 495,646 shares, or 0.0285% of his stake.

A total of 13,979,316 shares, or 0.8044% of the stake, will be sold through centralized bidding or block trades from July 8 to Oct. 7, the disclosure said.

The chairman currently owns 11,996,731 shares, or 0.69% of the Chinese auto parts manufacturer's total share capital, while the vice chairman holds 1,982,585 shares, or 0.11%.

The company's shares fell less than 3% in recent trade.

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