China Carbon Neutral Development's (HKG:1372) substantial shareholder, Sha Tao, acquired an additional 27.3 million ordinary shares in the firm at HK$1.50 apiece, according to a Tuesday Hong Kong bourse filing.

The shares, purchased from the open market, representing roughly 4.25% of the energy services provider's issued share capital.

Following the acquisition, Sha holds 156.6 million, or 24.35% shares, in the company.