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Giant Network Shareholder Offloads 1.18% Stake; Shares Up 3%

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Giant Network Group (SHE:002558) said a shareholder offloaded 1.18% of its stake in the company through block trading, according to a Friday disclosure on the Shenzhen bourse.

The shareholder, Shanghai Tengpeng Investment Partnership (Limited Partnership), disposed of 22,410,600 shares between Aug. 31 and Sept. 3.

After the transaction, the total shareholding of Tengpeng Investment and its acting-in-concert party fell to 37.8% from nearly 39%.

The Chinese online game developer's shares rose 3% during the afternoon trade.

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