Everest Medicines (HKG:1952) reported unusual price and trading volume fluctuations on Wednesday, owing to a block trade by the controlling shareholder of the company, according to a Thursday filing with the Hong Kong bourse.
The company clarified that CBC Group sold 17.1 million shares via a block trade to international investors. It still retains over 34% ownership in Everest Medicines. Executives confirmed that they did not sell any shares, and the event has no bearing on the company's operations or financial position.
The company's shares were down by over 2%.
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