July 20 -- The major shareholders of Dongguan Fangda Renewable Resources Industry (600656) reduced their shareholdings in the company in July, reports Beijing Times, citing a company filing.

Natural person Wang Minghua, the third-largest shareholder of Fangda Renewable Resources, sold two million shares, or a 1.05 percent stake in the company on July 18.

After the share sale, Wang holds 8.9 million shares, or a 4.67 percent stake in the company.

Wang sold the shares at an average price of 12.88 yuan per share, cashing out about 25.76 million yuan.

Natural person Lin Huan sold three million shares between July 1 and July 7, accounting for 1.58 percent of the company’s total share capital.

After the share sale, Lin will no longer hold any shares in the company. Lin cashed out 38.75 million yuan.

DongGuan Fangda Renewable Resources Industry is engaged in the recycling, medical, and chemical industries. It produces tire rubber powder, tire treatment equipment, natural fatty alcohol, and stearic acid.

Source:CapitalVue