A unit of China XD Electric (SHA:601179) plans to trim its holdings in the company, according to a Shanghai Stock Exchange disclosure on Thursday.
GE Smallworld (Singapore) will dispose of up to 3% of its stake between March 6 and Jun 5.
GE Smallworld currently owns 12% or 615.1 million shares in the Chinese electrical equipment manufacturer, the disclosure said.
The company's shares dropped more than 4% in recent trade.
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.