(Yicai Global) Oct. 17 -- Wang Zhaoming, the largest shareholder in Inner-Mongolia M-Grass Ecology and Environment Group Co. [SHE:300355], will reduce his holding in the company from 23.87 percent (383 million shares) to less than 3.24 percent (52 million shares) in order to meet individual fund requirements, the company said in a press briefing yesterday.

Wang will sell off his shares through call auction or block trading over the next six months and the divestment will not affect his position as largest shareholder.

The firm's share price was CNY14.18 (USD2.15) as of the end of trading yesterday. Wang has not sold off any shares since the company's initial public offering in September 2012.

M-Grass Ecology and Environment is engaged in the restoration of grassland ecosystems, and has established 13 research institutes in different areas in the province. The company's research focuses on plant breeding, soil restoration and mining rehabilitation.