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Central China Management's Substantial Shareholder Cuts Stake; Shares Gain 16%

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Central China Management's (HKG:9982) substantial shareholder, Joy Bright Investments, agreed to sell shares in the company for a total of HK$48.3 million, according to a Tuesday Hong Kong bourse filing.

Joy Bright, which is wholly owned by Chairman Wu Po Sum, entered into separate agreements to sell 414.1 million shares to Wang Rui and 189.4 million shares to Liu Genyu.

Before the disposals, Joy Bright held 778 million shares in Central China Management.

Shares of the project management company were up nearly 16% in Wednesday afternoon trade.

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