China Zheshang Bank (02016) is expected to face a reduction of no more than 275 million A shares by shareholder Hengdian Group.

China Zheshang Bank (02016) announced that its shareholder Hengdian Group plans to reduce its holdings of A-shares through centralized bidding and block trades within three months after the disclosure of this announcement, for the purpose of its own business development. The total number of shares to be reduced shall not exceed 275 million shares, representing no more than 1% of the total share capital of the company.