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Lai Sun Development Co ( (HK:0488) ) has shared an announcement.
Lai Sun Development has disclosed that its current public float stands at 19.60%, below the 25% minimum required under Hong Kong Listing Rules, after earlier announcements flagged the shortfall. The company remains in discussions with connected persons over potential disposals of their shareholdings and plans to issue monthly updates until the public float is restored, while cautioning shareholders and potential investors about trading in its shares.
Management reiterates its intention to restore compliance within six months from its January announcement, indicating ongoing efforts to rebalance its shareholder base and meet regulatory requirements. The continued shortfall in public float underscores regulatory pressure on the company and may affect market liquidity and trading dynamics for its stock until the situation is resolved.
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 property and investment group operating under stock code 488. The company is involved in property development, investment and related businesses, serving investors in the Hong Kong capital markets and adhering to the Listing Rules of the Stock Exchange of Hong Kong.
Average Trading Volume: 1,474,955
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$872M
Find detailed analytics on 0488 stock on TipRanks’ Stock Analysis page.