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Lai Sun Development Co ( (HK:0488) ) has shared an update.
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 is therefore under regulatory pressure to increase the proportion of shares held by public investors to restore compliance.
The group is exploring measures to restore its public float, including potential disposals of shares by connected persons, and aims to complete the process within six months from its earlier announcement. It will issue monthly updates to keep shareholders and the market informed, while cautioning investors to be careful when dealing in its shares during this period of non-compliance and transition.
More about Lai Sun Development Co
Lai Sun Development Company Limited is a Hong Kong-listed property group engaged in real estate investment and development. The company operates within the Hong Kong market and is subject to local listing regulations governing shareholding dispersion and public float requirements.
Average Trading Volume: 364,507
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.44B
Learn more about 0488 stock on TipRanks’ Stock Analysis page.