Hong Kong-listed STERLING GP (01825) experienced a sharp decline, falling over 83% in morning trading today after a late-session collapse yesterday. The stock closed down 37% yesterday and has now accumulated a nearly 90% loss over two trading days. At the time of writing, the shares were trading at 1.38 Hong Kong dollars, down 82.72%, with a turnover of 13.04 million Hong Kong dollars.
In recent news, STERLING GP has seen multiple share transfer activities over the past month. On August 14, shares with a total market value of 18.25 million Hong Kong dollars, representing 8% of the company, were transferred out from Zhuorui Securities Hong Kong, involving 808,000 shares. On August 19, another transfer valued at 11.64 million Hong Kong dollars, accounting for 5.01%, was moved from Yongfengjin Securities (Asia), involving 552,000 shares.
Further transfers occurred on August 28, with shares worth 55.42 million Hong Kong dollars, or 16.54%, moved out from Zhuorui Securities Hong Kong, representing 2.444 million shares. On September 2, shareholders deposited shares valued at 30.82 million Hong Kong dollars, equivalent to 8.48%, into Daokou Securities, involving 3.5148 million shares. Most recently, on September 8, a transfer of shares worth 53.36 million Hong Kong dollars, accounting for 15.32%, was made from Yuanda Securities Hong Kong, involving 2.2 million shares.
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