Many Idea Liujianhui sold its 300 million shares, equivalent to a 22.06% stake, in Many Idea Cloud Holdings (HKG:6696) to four independent third parties.

The shares were divested at an average of HK$0.166 apiece on Friday, a same-day bourse filing said.

Many Idea Liujianhui is owned by Liu Jianhui, chairman and controlling shareholder of Many Idea Cloud.

After completing the disposal, Liu will hold 322,776,941 shares in the integrated marketing solutions provider, equivalent to a 23.73% stake.