Movement Alert|LUXSHARE ICT Falls 3.3% in Regular Trading, Bank of New York Mellon Slashes H-Share Long Position by 6.64 Percentage Points

Market Focus14:29

On August 13, LUXSHARE ICT fell 3.3% in regular trading, trading at HK$61.55/share, with turnover of HK$125 million. The stock retreated below its IPO price of HK$63.28 after briefly recovering above that level the prior session.

On the news front, Hong Kong Exchange filings disclosed on August 12 revealed that The Bank of New York Mellon Corporation drastically reduced its long position in LUXSHARE ICT H-shares from 7.78% to 1.14% as of August 7, a decline of 6.64 percentage points. Separately, share transfers totaling HK$992 million (4.03% of market capitalization) were recorded moving out of Goldman Sachs (Asia) Securities, involving 14.07 million shares. These institutional position reductions compound earlier supply-side pressure from the company's partial exercise of over-allotment options, which added 12.54 million new H-shares to circulation on August 10.

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