Movement Alert｜BLOKS falls 5.86% at open, controlling shareholder stake sale continues to weigh on sentiment

Market Focus11-02 09:21

On November 2, BLOKS fell 5.86% at open, trading at HK$53.85, with turnover of HK$16,200.

The move followed continued market digestion of a recent stake sale by the controlling shareholder group member Smart Bloks, which has kept short-term investor sentiment under pressure.

Background details show Smart Bloks sold 3.849 million shares at HK$65.28 per share, representing about 1.56% of issued share capital, for proceeds of about HK$251 million. After the transaction, Zhu Weisong's overall interest fell from 53.59% to 52.03%, though he remains the controlling shareholder. A broker note had also said the disposal was likely to pressure near-term sentiment, while the company said the sale would not materially affect business or operations.

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