Bank Of Ningbo Co., Ltd. announced that the Company's shareholder, Ningbo Municipal Bureau of Finance, has transferred all its 270 million shares of the Company, or 9.36% of the Company's total shares outstanding, to Ningbo Development & Investment Group Co., Ltd (Company A), which holds 7.11% of the Company's total shares through its wholly owned subsidiary. After that, Company A indirectly and directly holds a 16.47% stake in the Company.

Source:reuters