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Erkang Pharmaceutical’s controlling shareholder Shuai Fangwen intends to reduce his holdings of the company’s shares by no more than 2.04%.
Beijing Business Daily, March 31, late in the evening of March 31, (by reporter Ding Ning) Erkang Pharmaceutical (300267) released an announcement stating that the company’s controlling shareholder, Shuai Fangwen, plans to reduce its holdings of the company’s shares in an aggregate amount of no more than 42 million shares within 3 months after 15 trading days from the date of the announcement, by means of centralized bidding or block trading, which is no more than 2.04% of the company’s total share capital.
The announcement shows that Shuai Fangwen holds 854 million shares of the company, accounting for 41.38% of the company’s total share capital. The proposed reduction is due to the shareholder’s own capital needs.