July 6 – Shanghai Metersbonwe Fashion and Accessories (002269) said on Tuesday that 75 million shares pledged as collateral to China Merchants Bank (600036) had been unlocked, reports China Business News.

As the shares, held by company chairman Zhou Chenjian, approached the end of their lock-up period, Zhou said he might sell the stake in order to improve share liquidity. Potential buyers include strategic investors or those with expertise in the apparel industry, the source said. Zhou and his daughter together held an 89.6-percent stake in the firm, which will be made tradable on August 28.

Source:CapitalVue