CIG Shanghai (SHA:603083) controlling shareholder Cambridge Industries, or CIG Cayman, and Shanghai Kangling Technology will both reduce their stakes in the listed company, according to a Saturday filing with the Shanghai bourse.
CIG Cayman plans to offload up to 8 million shares, equivalent to about 2.27%, while Kangling plans to reduce its stake by about 1.5 million shares or 0.41%.
The total shareholding to be offloaded is 9.5 million shares, or about 2.69%, the filing said.
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