Bestore (SHA:603719) controlling shareholder Ningbo Hanyi Venture Capital Partnership and another party will transfer 84,210,000 shares, or 21% of the stock, to Changjiang International Trade for 1.05 billion yuan, according to a Friday filing with the Shanghai bourse.

Ningbo Hanyi Venture Capital Partnership will transfer 72,239,880 shares, equivalent to 18.01% of Bestore, while Ningbo Bestore Investment Management will transfer 11,970,120 shares, or 2.99% of the company, for 12.42 yuan apiece.

Upon completion, Changjiang International Trade will be Bestore's controlling shareholder, with 21%, the filing said.

Ningbo Hanyi's stock will reduce to 17.22% from 35.23% while Ningbo Bestore will no longer have any shareholding, the filing said.