Lai Fung Warns on Low Public Float Despite Normal Operations

Lai Fung Holdings ( (HK:1125) ) has provided an announcement.

Lai Fung Holdings reported that its business operations have remained normal since the resumption of trading in its shares in November 2022. However, the company’s current public float stands at 14.76%, which is below the 25% minimum level required under Hong Kong listing rules.

The board said it is continuing discussions with controlling shareholders, core connected persons and financial advisers to restore the public float as soon as practicable. Until compliance is regained, Lai Fung will publish monthly updates on its public float status and restoration plan and comply with the other applicable listing rule requirements, while advising shareholders and potential investors to exercise caution when dealing in its shares.

The most recent analyst rating on (HK:1125) stock is a Hold with a HK$0.88 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 is a Hong Kong-listed company engaged through its subsidiaries in property-related businesses, operating under the regulatory framework of the Stock Exchange of Hong Kong. The group’s shares are publicly traded, with a controlling shareholder base and a portion of its issued share capital held by public investors as required under local listing rules.

Average Trading Volume: 20,245

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$291.3M

For an in-depth examination of 1125 stock, go to TipRanks’ Overview page.