U-Home Group Holdings (02327) said its controlling shareholder Shunda Investment Limited has disposed of 35.2 million shares to a non-executive Director Chen Xuejun on 28 January, representing about 2.15% of the issued share capital.
Completion of the disposal is expected to take place on or before 6 February.
Immediately following the completion of the disposal, interest of Shunda Investment in U-Home will be reduced to 57.94% from 60.09%.
Shunda Investment believes that with Chen Xuejun joining U-Home Holdings as a strategic shareholder, Chen Xuejun will use its expertise accumulated for years, network resources, appeal and influence to provide practical and effective assistance to the company in areas such as business development and capital market operation.
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