Chinese fintech firm Yiren Digital Ltd. (YRD) announced on Monday that Executive Chairman and CEO Ning Tang's indirect stake in its ordinary shares jumped to about 82% from 35.6%, following a restructuring of its controlling shareholder.
In pre-market activity on NYSE, shares of Yiren Digital were up 4.10 percent, changing hands at $1.2700, after closing Friday's regular session 0.81 percent lower.
The restructuring, which took effect June 5, involved CreditEase Holdings Ltd., Yiren Digital's controlling shareholder.
Tang previously held a 43.4% equity interest in CreditEase and now owns the entire equity interest in it, boosting his indirect stake in Yiren Digital.
Yiren Digital said the change relates solely to the ownership structure of CreditEase and will not affect its day-to-day operations, management, business strategy, or corporate governance.
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