Two of Chengdu Shengnuo Biotec's (SHA:688117) directors plan to dispose of part of their stake in the company to finance personal needs, according to a Shanghai bourse filing on Monday.
Deputy General Manager Ma Zhonggang and Chief Financial Officer Wu Li, who's also a deputy general manager, will each offload 18,816 shares, or 0.0120% of the company's total shares, within three months.
Currently, Ma owns 175,616 shares, representing 0.1116% of the company's total share capital, while Wu holds 116,816 shares, or 0.0742%.
The peptide drug manufacturer's shares dropped over 3% at the close.
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