Asia
PNC Process Systems' Controllers Dispose of Company Stake; Shares Up 5%
PNC Process Systems' (SHA:603690) actual controllers divested a total of 2.24% stake in the company, according to a Monday disclosure on the Shanghai bourse.Jiang Yuan, also the controlling shareholder, and Lu Longying, the person acting in concert with the controller, offloaded 8.6 million shares through centralized bidding and block trades.The transaction brought down Jiang's and Lu's shareholding with Gongqingcheng Shangchun Technology Industry Investment Partnership (Limited Partnership) to 25.23% from 27.47%.The Chinese semiconductor device manufacturer's shares jumped 5% during the morning trade.
SHA:603690
