UMH Entertainment (02438) opened more than 14% lower, as of the time of publication, it dropped by 14.29%, closing at 0.9 Hong Kong dollars, with a turnover of 0.1881 million Hong Kong dollars.
According to the Securities Times APP, UMH Entertainment (02438) opened more than 14% lower, as of the time of publication, it dropped by 14.29%, closing at 0.9 Hong Kong dollars, with a turnover of 0.1881 million Hong Kong dollars.
From a news perspective, UMH Entertainment will mark its first anniversary of listing today, welcoming the unlocking of its initial public shares. As previously announced, the company's two major cornerstone investors, Beijing Centergate Technologies and Nanjing Economic and Technological Development Zone JuZhi Ventures Investment Partnership (Limited Partnership), collectively hold 24.925 million shares that will be unlocked. At the same time, shares held by investors before the initial public offering as well as those held by existing shareholders, totaling 0.876 billion shares and 69.9162 million shares, respectively, will also be unlocked, corresponding to a total equity ratio of 58.76% and 4.69% of the company.
In addition, Perfect Opt recently announced that its subsidiary Skyteam Resources Limited is restricted from selling the 25.21322 million shares of UMH Entertainment common stock it holds until the final day of the lock-up commitment on October 23, 2024. After this date, Skyteam will be released from the lock-up commitment. It is worth noting that on October 14, there was a share deposit event involving 0.141 billion shares of UMH Entertainment stock being deposited with China Securities Co., Ltd. (International), accounting for 9.39% of the company's actual circulating equity.