Flat Glass Group shareholder plans to reduce holdings

Flat Glass Group (SSE:601865) announced that shareholder Tao Hongzhu plans to reduce holdings of the company's shares. As of the announcement, Tao Hongzhu held 12,840,000 shares, representing 0.5480% of the company's total share capital. The shares were obtained prior to the company's IPO. Due to personal funding needs, Tao Hongzhu plans to reduce holdings via concentrated bidding, selling no more than 2,500,000 shares, not exceeding 0.1067% of the company’s total share capital. The reduction will occur within 3 months after 15 trading days from the date of this announcement, and prices will be determined by market conditions. The company stated that this reduction plan will not impact company governance or operations.