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Jolimark's Controlling Shareholder Sells Further Shares in Ongoing Placement; Shares Up 6%

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Jolimark Holdings' (HKG:2028) controlling shareholder Kytronics Holdings placed a further 141 million shares of the company to third-party investors, a Monday bourse filing showed.

Shares of the company were down over 6% in Tuesday afternoon trading.

The move came as part of Kytronics' plan to place between 120 million and 445 million shares it holds in Jolimark for at least HK$0.55 apiece, as revealed by an earlier filing.

The highest number of shares represents 51.85% of the company's existing issued share capital.

Kytronics is a wholly-owned company controlled by Au Pak Yin, chairman of Jolimark.

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