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Lai Sun Development Co ( (HK:0488) ) just unveiled an announcement.
Lai Sun Development Company Limited has reported that its current public float stands at 19.60%, below the 25% minimum required under Hong Kong Listing Rules. The company reiterates that it is exploring measures, including potential share disposals by connected persons, to increase the proportion of shares held by the public.
Management expects to restore compliance with public float requirements within six months from its earlier January announcement and will issue monthly updates until the float is brought back to the prescribed level. Shareholders and potential investors are urged to exercise caution when dealing in the company’s shares while the restoration process is ongoing.
The most recent analyst rating on (HK:0488) stock is a Hold with a HK$0.69 price target. To see the full list of analyst forecasts on Lai Sun Development Co stock, see the HK:0488 Stock Forecast page.
More about Lai Sun Development Co
Lai Sun Development Company Limited is a Hong Kong-listed company engaged in property-related and investment businesses, with its shares traded on the Main Board of the Stock Exchange of Hong Kong. The company operates under stock code 488 and is overseen by a board comprising executive, non-executive and independent non-executive directors.
Average Trading Volume: 1,540,041
Technical Sentiment Signal: Hold
Current Market Cap: HK$1B
For a thorough assessment of 0488 stock, go to TipRanks’ Stock Analysis page.