Seazen Holdings' controlling shareholder partially releases pledged shares

Seazen Holdings (SSE:601155) announced that its controlling shareholder, Fuyu Development Group, and its concerted action party, Changzhou Derun Consulting Management, have partially released pledged shares. Fuyu Development released 13,240,500 shares, reducing its cumulative pledged shares to 398,055,500, representing 28.89% of its holdings. Changzhou Derun released 19,000,000 shares, with remaining pledged shares at 60,000,000, or 43.54% of its holdings. As of the announcement date, the total shares pledged by Fuyu Development and Changzhou Derun are 458,055,500, accounting for 30.22% of their combined holdings and 20.31% of Seazen's total share capital. The released shares may be used for subsequent pledges.