Fabless integrated circuit designer Montage Technology Co. Ltd. (6809.HK; 688008.SH) said on Thursday it was notified that shareholder WLT Partners L.P. intends to reduce its holdings in the company’s Shanghai-listed shares. The planned share reduction will involve up to 2.33 million shares, representing approximately 0.19% of the company’s total share capital.
The share reduction will take place within a three-month period starting Nov. 2, with the final selling price determined by market rates.
WLT Partners L.P. currently holds 45 million shares of Montage Technology. Combined with the 25.68 million shares held by its affiliated Shanghai Rongying Enterprise, the two parties collectively own 5.79% of the company.
The company’s Shanghai-listed shares fell 4% to 214.5 yuan on Thursday, while its Hong Kong shares opened nearly flat at HK$300 on Friday. The Hong Kong stock has surged 180% from its listing price this year.
By Lau Chi Hang
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