Gasgoo.com (Shanghai June 25) - A statement from Haima’s board of directors has released a statement regarding the makeup of its stake in the automotive manufacturer earlier this month. Not long after, the board issued another statement that it would temporarily yield 17.26 million shares in the manufacturer until the end of the year, equivalent to a 1.05% share.
The board has made the decision in order to acquire more funds for investment in Haima. According to the report, the board will yield the shares by either block trading or competitive trading.
The board refused to reveal any further details regarding the decision, simply referring media outlets to review the official release it had put out.
A securities analyst commented that “the decision is a market response that is commonly seen.”
