Major Shareholder Pares Stake In Dalian Friendship Again

Date:2011-11-17houhaizhen  Text Size:

November 17 -- Friendship Group, the controlling shareholder of Dalian Friendship (Group) (000679.SZ), a company involved in the retail and hospitality businesses, sold six million shares, or a 1.68 percent stake, at an average price of 7.37 yuan per share, on November 14 and 15, reports, citing a company filing.

During the period between November 3 and 15, Friendship Group had liquidated a total of 17 million shares, accounting for a 4.77 percent stake.

Friendship Group obtained 129 million yuan from its share sales in the past half month.

Following the share sales, Friendship Group gave a commitment that it will not sell more than a five percent stake in Dalian Friendship Group in the next six months, and maintain its 37.5 percent shareholding.

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