ZHOU Hongyi, founder and chairman of cybersecurity firm 360 Security Technology has divorced with his ex-wife HU Huan, the company said in a filing on Shanghai Stock Exchange on Thursday.

According to the divorce agreement, Zhou will transfer 446 shares in the company to Hu, accounting for approximately 6.25 percent of the total share capital. According to 360's latest market value (143.5 billion yuan), the equity transfer is valued at approximately 8.96 billion yuan (US$1.3 billion). Zhou will remain the major shareholder of the company after the equity change.