Brilliance China Plunges 9%; Management Reduces Stakes
According to the Hong Kong Exchange filing, Wu Xiaoan, chairman of Brilliance China (Hong Kong stock code 1114),reduced stake by 2.25 million shares at an average price of $9.055-9.18 apiece during 11-13 January by three times for a cash of $20.43 mln. Qi Yumin, the CEO, offloaded 3.276 million shares at an average price of $9.055-9.132 apiece, cashing in $29.74 million. Lei Xiaoyang, the non-executive director, underweighted 100,000 shares at a price of $9.05 each on 11 January, bringing a cash of $905,000. The stock plunged 8.99% to 7.90.
Comments are closed.