SEM Holdings (HKG:9929) said its controlling shareholder Yao Capital sold a 9% stake in the business to HH RSV-MIM Holdings, according to a Hong Kong bourse filing Friday.
Shares of the electrical and mechanical engineering services fell over 10% in morning trade Monday.
Yao Capital disposed 180 million shares of the firm for $13.2 million, reducing its stake from 75% to 66%, SEM said.
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