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Lai Sun Development Co ( (HK:0488) ) has shared an update.
Lai Sun Development has disclosed that substantial shareholders Mr. Yu Cheuk Yi and Ms. Yu Siu Yuk have jointly acquired a further 60.66 million shares, lifting their combined holding to about 24.12% of the company’s issued share capital. As the Yus and other major holders are classified as connected persons under Hong Kong listing rules, their enlarged stake reduces the company’s public float to roughly 19.60%, below the 25% minimum required by the Stock Exchange, potentially obliging the company to pursue remedial measures to restore compliance and affecting the liquidity available to public investors.
The most recent analyst rating on (HK:0488) stock is a Hold with a HK$0.60 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 conglomerate primarily engaged in property investment and development, as well as hospitality and related businesses. The company’s shares are traded on the Main Board of The Stock Exchange of Hong Kong, with a significant strategic stake held by Lai Sun Garment (International) Limited and its subsidiaries.
Average Trading Volume: 1,392,014
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$886.5M
For detailed information about 0488 stock, go to TipRanks’ Stock Analysis page.