Anta International Group Holdings has agreed to sell a stake of approximately 3.26 percent in Anta Sports Products, of which it is the controlling shareholder, according to a company announcement dated April 21. The sale of 88 million shares in the company for HK$11.57 billion (€1.24bn-$1.49bn) will reduce its direct stake in Anta Sports from 50.81 percent to 47.56 percent. The placement price of HK$131.48 (€14.11-$16.94) per share represents a 7.5 percent discount to the close on April 20. The controlling shareholder will continue to exercise control over Anta Sports as it also holds an indirect 10.23 percent stake in the company through two subsidiaries. Anta Sports said it did not expect the placement to impact its daily operations or key management staff significantly.