Cloud Factory Technology (HKG:2512) controlling shareholder Ru Yi Information Technology will divest up to 69 million shares, according to a Monday disclosure to the Hong Kong bourse.
The shares to be sold comprise 15% of the entire shareholding of the data center services company, the filing said.
Upon completion, Ru Yi IT's shareholding will fall to 276 million shares, or 60% of the entire shareholding of Cloud Factory Technology.
Ru Yi and Chairman/Chief Executive Officer Sun Tao will continue to be the controlling shareholders, the filing said.
Shares in the data center services company plunged 23% during afternoon trading Monday.
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