Lingyi iTech controlling shareholder cuts convertible bond stake

Lingyi Investment, the controlling shareholder of Lingyi iTech, sold 2.22 million convertible corporate bonds through block trades in July, reducing its stake from 46.89% to 36.50%.

The transactions represented 10.39% of total bond issuance. Combined with actual controller Ms. Zeng Fangqin's unchanged 2.06% stake, the controlling parties now hold 38.57% of total convertible bonds.