TDG Holding (SHA:600330) said three of its controllers reduced part of their company shares, according to a Shanghai bourse filing on Saturday.
The electronic materials manufacturer's shares slumped 8% at the close of Monday's trade.
Pan Jianzhong, Pan Juanmei and Yu Zhihua collectively offloaded 1.56%, or 19,234,083 shares in the company. After the transaction, the combined holdings of all actual controllers and persons acting in concert declined to 17.34% from 18.90%.
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