U.S.-based multinational financial services provider FMR LLC has reduced its stake in China-based recruitment marketplace operator Tongdao Liepin Group, Sina Corp reports.

FMR LLC, known as Fidelity, offloaded 6.5 million shares in Tongdao Liepin for HK$80.8 million ($10.3 million U.S.) at a price of HK$12.40 per share. The transaction reduced Fidelity’s holding in the company to 5.8% (30.6 million shares).

Founded in 2018 and listed on the Stock Exchange of Hong Kong, Tongdao (formerly Wise Talent Technology Services Co.) runs recruitment marketplace Liepin.com.

The company recorded an operating profit of $17.1 million on revenue of $89 million in the third quarter of 2022.

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