China's Jiangsu Financial Leasing Co. Ltd. said an institutional investor plans to reduce its 6.50% stake in the company by no more than two thirds, or 4.33%.

Duilong Rongcheng Enterprise Management Co. Ltd. plans to sell up to 129,412,000 of its 194,118,000 Jiangsu Financial Leasing shares through centralized bidding or bulk trading, according to a March 5 release. The latter was listed publicly in a 2018 Shanghai IPO.

The reduction price will not be less than the IPO issue price.

Jiangsu Financial Leasing focuses on lending in sectors such as pharmaceuticals, construction and education.