On June 3, Time Interconnect Technology rose 5.04% in regular trading, trading at HK$19.62 per share, with trading volume of HK$132 million.
On the news front, the stock is experiencing a technical rebound after consecutive declines following its share placement. The company completed a placement of 138 million new shares at HK$21.00 per share on May 19, raising net proceeds of approximately HK$2.885 billion. The shares represented about 6.19% of the enlarged share capital. Following the placement, the stock price fell persistently, dropping to HK$17.8 on June 2 — a discount of over 15% to the placement price — resulting in significant unrealized losses for placees.
After sustained selling pressure drove the stock into oversold territory, short-term disposal demand appears to have been largely absorbed, triggering the current rebound. The stock nonetheless remains approximately 6.7% below the HK$21.00 placement price. Southbound capital previously accumulated a holding of roughly 9.86% of the company, and the market continues to monitor subsequent capital flows.
(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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