​Xtep’s controlling shareholder sells 80 million shares

The largest shareholder of Chinese sportswear brand Xtep International, Group Success Investments Limited, has sold 80 million shares, or about 3.04 percent of the free float, for HK$12.70 per share (€127.8m in total). Group Success is majority owned by the Ding family, which controls Xtep. Xtep did not disclose the buyer’s name but indicated that it was not a current shareholder of the company. After the transaction, Group Success’ stake is 1,230,059,500 shares, or 46.68 percent (previously 49.72%).