(Yicai Global) June 27 -- Shares in China Securities have tumbled for the second straight day today after major shareholder Citic Securities unveiled that it would sell all of its shares in the firm over the next six months.

China Securities' share price [SHA:601066] plummeted 7.4 percent to CNY22.07 (USD3.21) today after hitting the 10 percent daily limit down yesterday, the same day Citic unveiled its selloff plans.

The Beijing-based investor is the fourth largest shareholder in China Securities with a near 5.6 percent stake.

Editor: James Boynton