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IRay Technology Shareholders to Shed Over 2.8 Million Shares; Shares Down 7%

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IRay Technology Company (SHA:688301) shareholder Hainan Heyin and director Richard Aufrichtig plan to offload up to 2.84 million shares via centralized bidding between July 17 and Oct. 16.

Hainan Heyin will sell 2.8 million shares, or 0.93% of total equity, while Aufrichtig will dispose of up to 40,000 shares, or 0.02%, according to a Friday filing on the Shanghai bourse. Both cited personal capital needs for the move.

Shares of the X-ray system components manufacturer were down 7% in recent trade.

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