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Zhejiang Century Huatong Largest Shareholder Cuts Stake Sale Early

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Zhejiang Century Huatong (SHE:002602) said its largest shareholder, Wang Ji, and his concerted party Jiyunsheng have terminated their share reduction plan early.

Wang and the concerted party sold 52.6 million shares, or 0.71% of total capital, between June 16 to June 29 at an average price of 13.56 yuan per share, according to a Friday filing with the Shenzhen bourse. The planned reduction was initially set to run through Aug. 29.

Following the sale, the combined stake of Wang and his concert parties declined to 14.01% from 14.73%.

Shares of the game developer rose 4% in recent trade.

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