(Yicai Global) Sept. 21 -- Fosun International Ltd. [HK:0656] said that its sale of China Minsheng Banking Corp. [SHA:600016; HK:1988] stock was normal secondary market behavior of buying or selling investments. Fosun will still focus on value investment opportunities in the banking sector, Sina Finance reported.

Fosun sold 643 million Minsheng Banking H-shares for USD0.93 (HKD7.28) to HKD7.38 per share, a document published yesterday by media said.

Fosun offloaded 92.5 percent of its stake in Minsheng Banking. As of June 30, 2017, Fosun had 695 million Minsheng Banking H-shares, making it the bank's second largest shareholder with a 10.03-percent stake, Minsheng Banking's semi-annual report shows.

The sale price was 4.2 percent to 5.5 percent lower than the stock's Sept. 20 closing price. Minsheng Banking H-shares dropped to as low as HKD7.31 on the news today.

Minsheng Banking said it will not comment on shareholders' actions.