Shareholders cut Mansion stake

Mansion Holdings said the interests of its controlling shareholder - the Yip family - and other connected parties in the company had been reduced from 35 per cent of its issued capital to 16 per cent. The reduction was a result of the disposal in the market of 95.8 million shares, or 19 per cent of the issued capital, by lenders to chairman Jason Yip Chi-fun. The shares had been previously pledged by Mr Yip to the lenders as collateral for credits extended to him. After the reduction, the Yip family and concerned parties will remain the largest shareholders of the company.