XingQuan substantial shareholder sells 2 mil shares

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KUALA LUMPUR (Sept 17): China national Xie Zhidong, a major shareholder of XingQuan International Sports Holdings Ltd, has disposed of a total of two million shares in the firm, a filing to Bursa Malaysia revealed today.

Xie had disposed 1.6 million shares in XingQuan on Sept 11, and a further 400,000 shares on Sept 12. The disposal leaves Xie with 25.33 million shares or a 7.5% stake in XingQuan.

XingQuan closed up higher today at 59.5 sen after gaining 0.5 sen or 0.9%, giving it a market capitalisation of RM204.53 million.