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Lier Chemical Controlling Shareholder to Divest Stake

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Lier Chemical's (SHE:002258) controlling shareholder Sichuan Jiuyuan Investment Holding Group and shareholder Sichuan Chemical Materials Technology will sell 188.1 million shares in a public bidding, according to a Thursday filing with the Shenzhen bourse.

Jiuyuan Group will divest 160.1 million, equivalent to 20% of Lier Chemical's total shareholding, while Sichuan Chemical Materials Technology will sell 28 million shares, equivalent to about 3.5% of Lier Chemical's total shareholding.

Upon completion, the new buyer will become the controlling shareholder.

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