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GuoChuang Software Controlling Shareholder to Sell 5% Stake for 409 Million Yuan; Shares Fall 5%

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GuoChuang Software (SHE:300520) controlling shareholder Hefei Guochuang will transfer 14.6 million shares, or 5% of total share capital, to Zhide Longteng's private fund for 28.00 yuan per share, totaling 409.1 million yuan.

The transfer will not change the company's control structure, according to a Thursday filing with the Shenzhen bourse.

Shares of the software developer were down 5% in recent trade.

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