Luyuan Group Holding (Cayman) (HKG:2451) said its controlling shareholders Apex Marine Investments and Drago Investments each granted an option to sell 20 million shares of the company at HK$9 apiece, according to a Monday filing with the Hong Kong bourse.
The options were granted to two Chinese officials identified as So Ching Tung and Sze Ching Lau, while the shares to be sold represent 4.88% of the company's issued share capital.
The share purchase option will last for three years.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.