Sansure Biotech's Shareholder Receives Court Approval to Offload Part of Stake as Debt Payment

MT Newswires Live

Aug 11

Sansure Biotech (SHA:688289) said a court ruled that a shareholder would be allowed to dispose of some of his shares in the company to pay debts to the entities he controlled, according to a Shanghai bourse filing on Tuesday.

The Intermediate People's Court of Zhuzhou City, Hunan Province, China permitted Chen Wenyi, a shareholder owning 5% of the biotechnology company, to sell 5.7 million shares, or 0.99% of the company's total shares, through block trades or centralized bidding.

Chen's holdings will be reduced to 3.58% from 4.56%.

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