Shibao Holding cuts stake in Zhejiang Shibao by 1%

Zhejiang Shibao Company Limited announced its controlling shareholder has completed a plan to reduce its stake by 1%.

Shibao Holding sold 8.2 million A shares through centralized bidding at an average price of 12.55 yuan per share between July 10-14. The controlling shareholder now holds 34.90% of the company's total share capital, down from 35.90%.