REMEGEN (09995) saw its shares drop sharply by 5.00% during the intraday session on Monday, following news of a stake reduction by major institutional investor BlackRock.
According to Hong Kong Stock Exchange filings, BlackRock sold 185,500 shares of REMEGEN at HK$81.6411 per share on November 25, reducing its stake to 4.99%. Such a move by a significant shareholder often triggers market concerns, leading to broader sell-offs and downward pressure on the stock price.
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