By Adria Calatayud
London-listed shares in Hutchison China MediTech fell Monday after the company said shareholder CK Hutchison Holdings plans to sell a 1.3% stake.
This would reduce CK Hutchison's stake in the company to 49.9% from 51.1%, Hutchison China MediTech said.
The China-focused pharmaceutical company, which is listed in the U.K. and the U.S., said the Hong Kong-based conglomerate has no intention of selling additional shares in Hutchison China MediTech for the foreseeable future upon completion of the current offering.
Hutchison China MediTech's London-listed shares at 1132 GMT were down 12% at 264 pence.
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