Yunnan Tourism (002059) disclosed that director Li Jian intends to sell up to 9.7963 million shares (0.9676% of total equity) within three months through centralized bidding or block trades. The shares originated from the company’s 2019 private placement during its major asset restructuring. Li will retain 39.185 million shares (3.87% stake) post-transaction, maintaining significant ownership.
The proposed reduction, attributed to personal financial needs, represents about 20% of Li’s current holdings. The company emphasized the director’s discretion in executing sales, noting final implementation will depend on market conditions, share price performance, and other factors – creating timing and pricing uncertainty.
This planned divestment follows standard post-restructuring liquidity procedures, with the scale suggesting measured selling pressure. The retained 80% stake indicates continued alignment with long-term shareholders despite the partial monetization.
Market observers note the disclosure provides necessary transparency while allowing flexibility. The relatively small percentage of total outstanding shares (0.9676%) suggests limited potential impact on trading liquidity, though investor sentiment may track execution patterns as they develop.
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