Hong Kong business magnate and investor Li Ka-shing reduced his holdings in Postal Savings Bank of China (HKG:1658, SHA:601658) or PSBC for the fifth time in the year, according to a Hong Kong Stock Exchange disclosure on Friday.

Li disposed of 20.8 million shares for HK$4.54 apiece, bringing his holdings in the lender down to 4.96%.

PSBC's shares slipped around 2% on both Hong Kong and Shanghai bourses at the close.