Stock Track | Lingbao Gold Plummets 5.20% Intraday Following Major Share Transfer and Placing Agreement
Stock Track
Apr 17
Lingbao Gold's stock plummeted 5.20% during intraday trading on Friday, as the market reacted to corporate actions involving significant share movements.
The decline follows news that a shareholder transferred shares worth HK$1.242 billion, representing 3.99% of the company's issued share capital, from Haitong International Securities to Guotai Junan (Hong Kong).
Additionally, the company announced a placing and subscription agreement involving 29.816 million H shares at HK$26.16 per share. This transaction represents approximately 2.55% of the existing issued H shares and could potentially dilute existing shareholders' equity.
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