On October 16, CIG rose 5.58% in Regular Trading, trading at HK$85.65, with turnover of HK$116 million.
The move was accompanied by disclosure that Morgan Stanley increased its position in the company, providing a clear event-driven catalyst for sentiment.
Exchange data showed Morgan Stanley bought 157,966 shares on October 9 at an average price of HK$104.90 per share, involving about HK$16.57 million. After the transaction, its holding rose to about 7.4468 million shares, or 8.03% of the company. Separate disclosure also showed Morgan Stanley's long position ratio in CIG's H shares increased from 8.03% to 8.54%, while its short position ratio declined from 3.01% to 2.39%.
This follows CIG's recent completion of a placement of 18.446 million new H shares at HK$105.16 each and issuance of RMB3.96 billion in convertible bonds, a financing package that had pressured the stock earlier on dilution concerns. Against that backdrop, renewed institutional accumulation appears to have helped offset part of the financing overhang.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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