The controlling shareholders of Hong Kong-listed Anta Sports Products Limited are to sell shares with a combined value of HK$800m (US$103m).

In an announcement to the Hong Kong Stock Exchange, the sports goods company said the shareholders would make a combined placement of 80m shares, priced at HK$10 each.

The disposal amounts to 3.2% of the company's share capital, the announcement said, and was being made as part of the sellers' respective asset management plans, and in part to help set up a charitable fund.