Conch Venture Shares Surge Over 5% in Afternoon Trading Following Parent Company's Ongoing Share Purchases

Deep News07-23

Shares of CONCH VENTURE (00586) rose more than 5% in the afternoon session. At the time of writing, the stock was up 5.50%, trading at HK$8.83 with a turnover of approximately HK$59.09 million.

On July 21st, the company issued an announcement stating that its board of directors had received a notification from its single largest shareholder, Conch Group. The notification indicated that, based on its firm confidence in the company's future development and long-term strategic investment considerations, Conch Group has been continuously purchasing the company's shares in the market recently. Following the initial announcement made by the company on February 25, 2026, Conch Group has proceeded to acquire more shares on the market. As of the date of this latest announcement, Conch Group, directly and indirectly through Anhui Conch Cement Company Limited and its subsidiaries, collectively holds a stake close to 21% of the total issued shares.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment