Shanghai HeartCare Medical Technology (HKG:6609) agreed to sell 1 million domestic shares to company chief financial officer and chief operating officer Zhang Han at HK$45 apiece, according to a Hong Kong bourse filing Friday.
Shares of the medical device firm fell over 2% in late morning trade Monday.
The issue, subject to shareholder approval, represents 2.61% of the company's total shares.
Shanghai HeartCare said the sale will help the firm raise additional funds for its operating activities.
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