POLY XVERSE IT Shares Surge Over 5% in Morning Trading as Major Shareholder Plans Substantial Stake Disposal

Deep News07-17

POLY XVERSE IT (00209) shares experienced a notable increase of more than 5% during the morning trading session. At the time of reporting, the stock was up 4.35%, trading at HK$0.48 with a turnover of HK$111 million.

On July 16, the company issued an announcement stating that the board had been notified by Ms. Wang Jingyu, an executive director, board chairperson, and the company's chief executive officer. The notification indicated that Peak Access International Limited (Peak Access), a current major shareholder of the company and the holder of all its issued shares, which is wholly owned by Ms. Wang Jingyu, entered into a private placement letter with Zhongce Fuhui Securities Co., Ltd. (the placing agent) after the trading hours on July 16, 2026. Peak Access intends to sell up to approximately 299 million company shares through the placing agent, representing about 20.14% of the company's issued share capital, with a placement price of no less than HK$0.33 per share.

Upon completion of the private placement and assuming all placement shares are successfully allotted to placees, Peak Access will no longer hold any shares and, consequently, will cease to be a major shareholder of the company.

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