News Column

SZITIC Trust Sold Changyuan Stake Again

June 23, 2014

SHENZHEN, June 23, SinoCast -- China Resources SZITIC Trust Co. seems to have a plan to quit Changyuan Group Ltd. (SHSE: 600525).

Changyuan said through bidding and bulk trading systems of the Shanghai bourse, its shareholder SZITIC Trust sold about 12.77 million its shares, or 1.479% of the total. After the deal, the shareholder saw stake in it drop to 4.761%, or about 41.12 million shares, from 6.24%, or about 53.89 million shares. Among its shareholders list, Woer Heat-Shrinkable Material and Fosun Group each has overtaken SZITIC Trust. Because of a less than 5% stake, SZITIC Trust will be allowed not to unveil any such share sales in the future.

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Source: Sinocast Energy Beat (China)

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