Understanding the Market | HSSP INTL turned down 20% in the afternoon with an intraday fluctuation of over 82% as the controlling shareholder sold 13.976 million shares
HSSP INTL, after resuming trading today, once rose over 50%, but turned to decline in the afternoon with the drop continuing to expand. As of the time of publication, it fell 11.88%, reported at HKD 2.82, with a transaction volume of HKD 53.2737 million, and an intraday volatility of 82.5%. On the news front, HSSP INTL announced that on October 31, the controlling shareholder Wade Investment SPC Ltd (wholly owned by Chairman Lu Xiaoma) sold 13.976 million shares in the open market. After the sale, the controlling shareholder holds approximately 123.6 million shares, accounting for 67.21% of the company's equity. The announcement stated that the controlling shareholder noticed that the stock price had significantly increased from HKD 1.41 per share (the comprehensive offer price as of June 16) and, considering the concentration of the company's equity, the controlling shareholder sold shares to realize profits and hopes to reduce the concentration of the company's equity. The controlling shareholder will continue to look for opportunities to sell more shares but currently has no intention of reducing its shareholding ratio below 50%
According to Zhitong Finance APP, HSSP INTL (03626) surged over 50% after resuming trading today, but turned to decline in the afternoon with the drop continuing to expand. As of the time of publication, it was down 11.88%, priced at HKD 2.82, with a trading volume of HKD 53.2737 million and an intraday fluctuation of 82.5%.
In terms of news, HSSP INTL announced that on October 31, the controlling shareholder Wade Investment SPC Ltd (wholly owned by Chairman Lu Xiaoma) sold 13.976 million shares in the open market. After the sale, the controlling shareholder holds approximately 123.6 million shares, accounting for 67.21% of the company's equity.
The announcement stated that the controlling shareholder noted that the stock price had significantly increased from HKD 1.41 per share (the comprehensive offer price as of June 16) and, considering the concentration of the company's equity, the controlling shareholder sold shares to realize profits and hopes to reduce the concentration of the company's equity. The controlling shareholder will continue to look for opportunities to sell more shares but currently has no intention of reducing its shareholding ratio below 50%
