On September 24, SIGENERGY fell 3.65% in regular trading, trading at 321.0 HKD/share, with turnover of approximately 5.62 million HKD. The decline came after the stock had rallied over 10% in the prior five trading sessions, triggering profit-taking pressure.
On the news front, the market is focused on the upcoming cornerstone investor lock-up expiry. Shares held by CCBI, a cornerstone investor, will become eligible for trading starting October 16 upon the expiration of the six-month post-IPO lock-up period on October 15. The unlocked tranche is valued at approximately 2.192 billion HKD, representing 4.77% of the company's H-share capital. With the stock trading near its IPO price of 324.2 HKD, technical support appears thin, amplifying concerns over potential selling pressure from newly unlocked shares.
The company listed on April 16 at 324.2 HKD per share, surged to an intraday high of 666.302 HKD on debut, but has since retraced sharply amid valuation normalization and sector-wide fund outflows, at one point dipping below the offer price to 255.6 HKD.
(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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