UCloud shareholder completes partial equity reduction plan

UCloud Technology announced that shareholder China Mobile Capital has completed a partial reduction of its holdings. The reduction, executed through centralized bidding, saw China Mobile Capital decrease its stake by 882,766 shares, representing approximately 0.19% of UCloud's total share capital. This leaves China Mobile Capital with 22,654,755 shares, or 4.96% of the company. The shares were sold at prices between CNY23.82 and CNY24.07, generating CNY21,141,192.35 in proceeds. The reduction plan, initially disclosed in March, allowed for a maximum reduction of 1.50% of the total share capital, but the plan has concluded with roughly 5.9 million shares unsold.