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FINWIRES

Haier Industrial Development Completes Bank of Qingdao Stake Sale

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Bank of Qingdao (HKG:3866, SHE:002948) said Qingdao Haier Industrial Development has completed its planned stake sale after reducing its holding by 107.1 million A-shares, according to a Wednesday Hong Kong bourse filing.

The shares were sold through block trades between July 8 and July 14 at an average price of 5.21 yuan apiece, representing 1.84% of the bank's total share capital.

Following the sale, Haier Industrial Development's stake in the bank fell to 425.5 million shares, or 7.31%, from 9.15% previously.

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