Suzhou Kingswood Education Technology's (SHE:300192) controlling shareholder, Wu Xianliang, plans to dispose of up to 1% of his holdings in the company, according to a Shenzhen bourse filing on Monday.
The Chinese ink manufacturer's shares dropped 4% at the close of Tuesday's trade.
The stake, representing 3,291,433 shares, will be offloaded through centralized bidding within three months.
Wu currently owns 90,750,000 shares, or 27.57% of the company.
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