On June 25, WellCell Holdings (New) rose 8.33% in regular trading, reaching HK$0.385 per share, with turnover of approximately HK$61.26 million.
The rebound follows the gradual digestion of selling pressure stemming from the company's major shareholder, WellCell Group, which announced on June 10 the sale of 576 million shares at HK$0.3445 per share to three individuals — a notable discount to the prevailing market price. Upon completion, WellCell Group would cease to be a major shareholder. The news triggered consecutive declines of 8.7% on June 16 and 2.44% on June 17.
On June 23, the 576 million shares were deposited into Beta International Securities, with a total custodial market value of approximately HK$230 million, representing 14.40% of total shares outstanding. This signals that the share transfer settlement is actively progressing. With the overhang from the discounted block sale now largely priced in and settlement nearing completion, short-term capital has rotated back into the stock, driving a continued recovery from recent lows.
(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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