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Lai Fung Holdings ( (HK:1125) ) just unveiled an update.
Lai Fung Holdings has provided an update on its ongoing failure to meet the Hong Kong Stock Exchange’s minimum public float requirement after two individual investors, Mr. Yu Cheuk Yi and Ms. Yu Siu Yuk, accumulated more than 10% of its shares in May 2022, thereby becoming substantial shareholders and core connected persons and causing the public float to drop from about 24.77% to around 14.75%. Trading in the company’s shares was suspended in June 2022 and later resumed, but despite exploring multiple avenues—including potential sell-downs by its controlling shareholders, discussions with core connected persons about disposing shares, and engagement of financial advisers to consider options such as placements, rights issues and scrip dividends—the board concluded that a meaningful disposal by its parent companies would be against their and their shareholders’ interests, and that structural, market and governance constraints, alongside the YUs’ unwillingness to engage, have so far prevented Lai Fung from restoring compliance with public float rules, prolonging regulatory uncertainty for investors.
The most recent analyst rating on (HK:1125) stock is a Sell with a HK$0.85 price target. To see the full list of analyst forecasts on Lai Fung Holdings stock, see the HK:1125 Stock Forecast page.
More about Lai Fung Holdings
Lai Fung Holdings Limited is a Hong Kong-listed company engaged in property-related businesses under the umbrella of controlling shareholders that also include other Hong Kong-listed entities. The company is considered a material and important subsidiary within its corporate group, and its shares are subject to Hong Kong Stock Exchange public float requirements and related Listing Rules governing ownership concentration and connected persons.
Average Trading Volume: 14,053
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$327.7M
See more data about 1125 stock on TipRanks’ Stock Analysis page.