East Money shareholder to sell 1% stake

East Money Information shareholder Shen Yougen plans to transfer 158.8 million shares, representing 1% of the company's total share capital, due to personal financial needs.

The transfer will be conducted through China International Capital Corporation to qualified institutional investors. The price floor will be set at no less than 70% of the average trading price over the 20 days prior to the subscription invitation.

Acquired shares will be subject to a six-month lock-up period. Shen currently holds 189.6 million shares, or 1.2% of total share capital.