NVC founder's share sale pushes down stock price

Shares in beleaguered NVC Lighting Holding dropped 9.3 per cent yesterday after announcing that its founder and former chairman Wu Changjiang is selling nearly two-thirds of his shares to Elec-Tech International (HK).

Wu will transfer 372.9 million of his total 587.4 million shares in the lighting manufacturer, which amounts to 11.81 per cent of the issued share capital of the company, according to a filing to the Hong Kong stock exchange.

via Business feed http://www.scmp.com/business/companies/article/1113884/nvc-founders-share-sale-pushes-down-stock-price