DL Holdings’ Controlling Shareholder Lifts Stake to 37.47%

DL Holdings Group Limited ( (HK:1709) ) just unveiled an update.

DL Holdings Group Limited has disclosed that its controlling shareholder, chairman and chief executive officer Chen Ningdi has completed a previously announced plan to increase his stake in the company. Acting through his wholly owned vehicle DA Wolf Investments I Limited, Mr. Chen purchased 20,000,000 shares on the open market at an average price of about HK$1.50 per share.

Following these purchases, Mr. Chen is now interested or deemed to be interested in 757,592,661 shares, representing approximately 37.47% of the company’s issued share capital excluding treasury shares. The board said the move underscores Mr. Chen’s strong confidence in DL Holdings’ prospects and growth potential and signals his long-term commitment to the group, while cautioning shareholders and potential investors to exercise care when dealing in the company’s securities.

The most recent analyst rating on (HK:1709) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on DL Holdings Group Limited stock, see the HK:1709 Stock Forecast page.

More about DL Holdings Group Limited

DL Holdings Group Limited is a Cayman Islands-incorporated company listed in Hong Kong under stock code 1709. The group is controlled by chairman and chief executive officer Chen Ningdi, who holds his interest partly through DA Wolf Investments I Limited. The company has a board comprising executive, non-executive, and independent non-executive directors, reflecting a typical Hong Kong listed corporate governance structure.

Average Trading Volume: 55,435,565

Technical Sentiment Signal: Sell

Current Market Cap: HK$2.1B

See more data about 1709 stock on TipRanks’ Stock Analysis page.