Zhejiang Shibao (HKG:1057) said its controlling shareholder, Shibao Holding, terminated its share sale plan early after reducing its stake by around 9.1 million A shares, or 1.11% of the company's total share capital.
Shibao Holding decided not to proceed with the sale of the remaining shares under the plan, according to a Tuesday Hong Kong bourse filing. The shareholder had originally proposed selling up to 24.7 million A shares, representing up to 3% of the company's total share capital, between May 22 and August 19.
Shares of the company rose nearly 1% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments