November 22 -- Yinchuan Economic and Technological Development Zone Holding Investment, a shareholder of chemical products provider Anhui Annada Titanium Industry (002136.SZ), reduced its shareholding in the latter by 2.66 million shares at an average price of 21.11 yuan per share in the period between July 7 and November 17, reports yicai.com, citing a company filing.

After the stake reduction, Yinchuan Economic and Technological Development Zone Holding Investment holds 11.37 million shares of Anhui Annada Titanium Industry, equivalent to a 5.29 percent stake.

Yinchuan Economic and Technological Development Zone said the shares were sold to better allocate its resources.

Prior to July 7, 2011, Yinchuan Economic and Technological Development Zone held a 10.35 percent stake in the listed company.

Anhui Annada Titanium Industry had conducted a private placement in February 2011 which reduced Yinchuan Economic and Technological Development Zone's stake by 2.41 percentage points.