Bloks (HKG:0325) said Smart Bloks, wholly owned by Chairman and CEO Zhu Weisong, sold 3.9 million shares at HK$65.28 each in a block trade on Thursday, raising about HK$251.2 million.
The sale represents about 1.56% of the company's issued shares.
Smart Bloks' direct stake fell to 2.01% from 3.57%, while Zhu's overall interest declined to 52.03% from 53.59%.
The company said the sale was to fund Smart Bloks' needs and financial arrangements and would not materially affect its business or operations.
Zhu remains the controlling shareholder, the filing said.
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