On October 21, LIGENT fell 5.13% in Regular Trading, trading at HK$21.98, with turnover of HK$27.815 million.
The move followed the company’s announcement that the stabilization period related to its global offering ended on October 17, while the sponsor and overall coordinator did not exercise the over-allotment option, which has now lapsed.
During the stabilization period, 25.8022 million shares were over-allocated in the international offering, equal to about 15% of the initially offered shares. The stabilizing manager borrowed the same number of shares to cover the over-allocation and later repurchased 25.8022 million shares in the market for return, at prices ranging from HK$25.28 to HK$32.96 per share; the last repurchase was completed on October 16 at HK$26.88. With stabilization activity concluded and no additional shares issued under the over-allotment option, short-term price support from post-listing technical arrangements has faded, although the company said public float remains in compliance.
(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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