Date
20 October 2017

China Shipping trims stake in brokerage, paper says

China Merchants Securities Co., Ltd. (600999.CN) said stockholder China Shipping (Group) Co. and three of its subsidiaries sold a combined 65.438 million shares in the brokerage between July 4 and November 26 for 740 million yuan (US$121.458 million), the 21st Century Business Herald reported Wednesday. The shares sold were equivalent to a 1.4 percent stake in China Merchants Securities. After the deal, China Shipping (Group) Co. and its subsidiaries hold no more than 5 percent of the brokerage, the report said.

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