Changchun High & New Technology Industries (Group) Inc., (SHE: 000661) has announced plans to transfer 30,014,100 shares, representing a 7.42% stake, to Wang Simian, the ex-wife of company shareholder Jin Lei and founder of subsidiary Changchun GeneScience Pharmaceutical Co., Ltd., as part of their divorce agreement. Based on the estimated closing price of the day, the market value of the shares to be transferred by Jin Lei is as high as RMB 4.004 billion. By the close of the market, Changchun High & New’s stock price had fallen 3.29% to RMB 133.41.
Jin Lei, who has previously reduced his holdings and cashed out, faces market rumors suggesting his potential departure from GeneScience. He currently serves as General Manager and Chief Scientist at GeneScience and does not hold a position at Changchun High & New.- Flcube.com
