Asia
Haixing Electronics Says Controller's Acting-In-Concert Party to Trim Company Stake
Nantong Haixing Electronics (SHA:603115) said the acting-in-concert party of its controlling shareholder, Nantong Xinhaixing Investment, plans to reduce its holdings in the company by 2%, according to a Shanghai bourse filing on Thursday.Nantong Lianli Investment Management will offload 4,837,800 shares between Aug. 7 and Nov. 6 through block trading to supplement its funding needs.Currently, Lianli Investment owns 14,820,000 shares, or 6.13% of the company's total shares.The Chinese electronic energy storage materials maker's shares dropped 10% at the close.
SHA:603115
