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MEITU Plunges 12% at Open; Founder cum Substantial Shareholder Cuts 2.8%+ Stake
Recommend 11 Positive 10 Negative 14 |
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MEITU (01357.HK) opened 12.12% lower this morning, bottoming at $5.36. It last traded at $5.67, down 8.4%, with 52.5511 million shares traded, involving $296 million. The company announced that the founder cum substantial shareholder of the Company, Cai Wensheng, disposed of 128 million shares of the Company, representing approximately 2.81% of the entire issued share capital of the Company. In addition, Wu Zeyuan, also the Company’s Founder, Chairman and CEO, will further increase his shareholdings in the Company as and when appropriate after the black out period ends. AAStocks Financial News |
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