Jiangtian Chemical Shareholder Plans To Cut Stake By Up To 4.3308 Million Shares

Jiangtian Chemical said on September 15 that Nantong Jiangshan Agrochemical & Chemicals Co., Ltd., a shareholder with more than 5% of the company, plans to sell up to 4.3308 million shares, or up to 3% of total share capital, over the three months starting 15 trading days after the announcement. The planned disposal includes up to 1.4436 million shares, or 1% of total share capital, via block trades and up to 2.8872 million shares, or 2%, via block trades. The shareholder cited its own funding needs and said the sale price will not be lower than Jiangtian Chemical's IPO price, according to Jiemian News. Based on the September 14 closing price of 27.3 yuan per share, the stake sale would have a maximum market value of about 118 million yuan.