Sequoia Capital China cut stake in Meituan to 1.86%

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Sequoia China offloaded 26.35 million shares of food delivery giant Meituan on August 31, at an average price of HK$129 per share, worth a total of about HK$3.4 billion, according to the information disclosed to the Hong Kong Stock Exchange.

That reduced Sequoia China’s stake in Meituan to 1.86% from 2.32%, according to the information.

Meituan shares closed 2.6% down at HK$125 in Hong Kong on Thursday.