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Zhong Ju Investment's Controlling Shareholder Plans to Sell Up to 30% Stake; Shares Fall 7%

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Zhong Ju Investment's (HKG:1959) controlling shareholder plans to reduce its stake by selling up to 159 million shares, representing no more than 30% of the company's issued share capital, according to a Wednesday filing with the Hong Kong bourse.

The controlling shareholder, MSINT, intends to carry out the sale primarily through a placing within three months to meet personal funding needs.

It currently holds about 376.9 million shares, representing a 71.1% stake in the company.

The company said the planned sale will not result in a change of control, with MSINT remaining the controlling shareholder.

Shares of the investment firm were down over 7% in Thursday's midday trade.

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Zhong Ju Investment's Controlling Shareholder Plans to Sell Up to 30% Stake; Shares Fall 7% | FINWIRES