360 Security Technology Controlling Shareholder to Sell 56 Million Shares for Tax Payment
360 Security Technology (SHA:601360) controlling shareholder Tianjin Qixin Zhicheng Technology plans to offload more than 56.0 million shares, or 0.8% of total equity, via centralized bidding between July 15 and Oct. 14.The share reduction aims to cover tax obligations stemming from the shareholder's ongoing dissolution and liquidation, according to a Wednesday filing with the Shanghai bourse.Shares of the internet advertising company closed 4% lower Wednesday.