China Energy Savings Technology (CESV)

[beigledog]

DJ New Solomon Sells 1.3M Shrs Of China Energy Savings Tech

WASHINGTON (Dow Jones)--China Energy Savings Technology Inc. (CESV) said Tuesday that New Solomon Consultants Ltd. sold 1.3 million common shares of the company on Friday.

According to a filing with the Securities and Exchange Commission, the shares were sold on Nasdaq at an average price of $8.912 each.

After the sale, New Solomon owned 11,505,134 shares, or a 45.3% stake, in the company, the filing said.

Shares of China Energy Savings Technology closed Tuesday at $7.54 each.

The recent sale, made for investment purposes according to Tuesday's SEC filing, follows the sale of 1 million shares of China Energy Savings Technology on Jan. 27 for $5.75 each and the sale of 2.2 million shares on Jan. 3 for $8 each.

China Energy Savings Technology, through its subsidiary, Starway Management Ltd., engages in the development, manufacture, sale and distribution of energy-saving products for use in commercial and industrial settings in China.