Guangzhou Yuexiu Capital Holdings Group (SHE:000987) plans to sell up to 1% of its holdings in CITIC Securities (SHA:600030, HKG:6030), according to a Shenzhen bourse filing on Saturday.
The Chinese financial services provider's shares soared 10% at the close of Monday's trade.
The board of directors' approval for the plan is valid until Dec. 31, 2026.
The company and its subsidiaries currently own 1.27 billion shares in CITIC Securities, or 8.54% of the financial company's total shares.
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