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Controlling Shareholders Trim Stake in China's Guocheng Mining

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Guocheng Mining's (SHE:000688) controlling shareholder, Guocheng Holding Group, and its concerted party, Gansu Jianxin Industrial Group, disposed part of their stake in the company, according to a Friday disclosure on the Shenzhen bourse.

Guocheng Holding and Gansu Jianxin offloaded 2,304,000 shares, or 0.19% of the company's total share capital, through centralized bidding between May 29 and June 11.

The shareholders' combined shareholding in the company dropped from 66.18% to 65.99%.

The Chinese mining company's shares jumped 8% during morning trade.

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