Metal stamping company CFM Holdings reported that Ang Hao Yao is no longer a substantial shareholder of the company.

According to a filing on September 9, Ang sold 3.43 million shares for $167,133 on the market on September 7.

The sale has reduced Ang’s stake in the company to 3.725% from 5.427%.

Prior to the transaction, shares in CFM traded at a high of 5.5 cents on the afternoon of September 7.

Shares in CFM closed 0.4 cent lower, or 8.5% down, at 4.3 cents on September 9.