Cellwise has officially disclosed that Zhoushan Weihe, acting in concert with one of the company's principal controllers, has outlined plans to divest a portion of its holdings. This divestment will occur via a combination of centralized bidding and block trading mechanisms, commencing after a period of 15 trading days from the public announcement date and concluding within the subsequent three months. The cumulative quantity of shares earmarked for sale is capped at 2,030,600 units, representing a 2.36% stake in the company's total share capital.
Specifically, the divestment strategy entails selling no more than 430,600 shares through centralized bidding, equivalent to a 0.50% shareholding reduction. Concurrently, an additional 1.6 million shares, constituting 1.86% of the total share capital, are slated for disposal via block trading. The driving force behind this stake reduction is attributed to the shareholder's intrinsic capital requirements.
