Sprocomm Intelligence's (HKG:1401) controlling shareholder, Leap Elite, sold 165 million shares of the company on the Hong Kong bourse on Sept. 27, a same-day bourse filing said.

Following the disposal, Leap Elite's shareholding in the firm shrunk to 204,967,204 shares, or 21% of the issued capital, from 369,967,204 shares, or 37% of the issued capital.

Leap Elite is 100% owned by Li Chengjun, an executive director of Sprocomm Intelligence.

Shares of the mobile phone manufacturer closed nearly 4% higher on Monday.

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