June 17th, according to Globenewswire, Sheen Tai (1335.HK) surged 47% to HK $0.175 in the afternoon, with light trading volume of only HK$460,000 so far. On the news front, the company announced at noon that its controlling shareholder, Sheen Tai Group, has sold 608.5 million shares, representing approximately 25% of the company's issued share capital, to Bao Heng Group for HK$152 million. After the completion of the share transfer, the seller's stake will be reduced from 62.1% to 37.1%, remaining as the company's controlling shareholder. The buyer will hold 25% of the shares, becoming the company's major shareholder. The board of directors expects that the share transfer, once implemented, will not have any adverse impact on the group's business operations.
港股异动丨无视大股东减持，顺泰控股大涨47%
Amidst the abnormal movements in the Hong Kong Stock Exchange, Sheen Tai Holdings rose by 47% despite ignoring the shareholder's shareholding.
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