Shares in Gansu Duyiwei Biological Pharmaceutical, a supplier of Tibetan herbal medicine, fell 6.9% at the Shenzhen Stock Exchange on Friday after its billionaire controlling shareholder Que Wenbin sold a 5% stake July 3-4 for the equivalent of $72 million. The disposals were disclosed in a regulatory announcement on Friday.
Que, who still owns 51.5% of Gansu Duyiwei Biological, also controls Shanghai-listed non-ferrous metal company Sichuan Western Resources Holding and has a stake in Shenzhen-listed Shaanxi Ligeance Mineral Resources.
Que ranked No.1,268 on the 2013 Forbes Billionaires List with wealth of $1.1 billion.
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