The controlling shareholder of Servyou Software (SHA:603171) plans to reduce its holdings in the company by up to 3%, according to a Shanghai bourse disclosure on Monday.
Ningbo Sichu Venture Capital Partnership (Limited Partnership) will offload 12,202,897 shares through centralized bidding and block trades within three months.
Ningbo Sichu currently owns 214,960,498 shares, or 52.85% of the Chinese finance and taxation software company, the disclosure said.
Servyou's shares dropped 10% in recent trade.
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