A fund company and a substantial shareholder reduced their stakes in C FIBER OPTIC (03777.HK) -0.030 (-5.556%) when prices were high. The stock continued lower this morning, slipping 4% to $1.4 and once challenging 50 MA ($1.395).
Cathay Capital sold 1.5 million shares to cash in $2.44 million on January 14 while the chairman of C FIBER OPTIC sold down his interest to 42.22% for around $19.4 million, stock exchange information reveals.
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