Neway Valve shareholder plans to reduce holdings

Neway Valve (SSE:603699) announced that Neway Group, a controlling shareholder, plans to reduce its holdings by no more than 7,490,620 shares, representing 0.97% of the company's total share capital. The shares being divested were acquired prior to Neway Valve's IPO. The reduction will be executed through centralized bidding, commencing 15 trading days after the announcement date and continuing for three months, ending October 17, 2025. Neway Group currently holds 7,490,620 shares. The stated reason for the share reduction is shareholder capital needs.