Easyknit International Holdings (HKG:1218) disposed of a total of 302,000 shares in Ping An Insurance (Group) (HKG:2318, SHA:601318) in the open market for around HK$11.4 million on Monday, a same-day bourse filing said.
The shares, which represent 0.0041% of Ping An's total issued shares, were sold through units Ace Winner Investment and Mark Profit Development.
Following the disposals, the property developer holds 431,460, or 0.0058%, shares in Ping An Insurance.
The company will use proceeds from the sale to partially repay bank loans.
Shares of Easyknit International closed 8% lower on Monday.
Price (HKD): $2.30, Change: $-0.20, Percent Change: -8.00%
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