Movement Alert｜Convergence Technology Falls 5.2% in Regular Trading, Post-Placement Selling Pressure Intensifies as Stock Trades Well Below Placement Price

Market Focus06-02

On June 2, Convergence Technology fell 5.2% in regular trading, trading at HK$17.89/share, with trading volume of HK$53.06 million.

On the news front, the company completed a share placement on May 19, issuing 138 million new shares at HK$21.00 per share to no fewer than six placees, representing approximately 6.19% of the enlarged share capital, with net proceeds of approximately HK$2.885 billion. The current stock price now trades at a discount exceeding 15% to the HK$21.00 placement price, with placees facing deepening unrealized losses. Market concerns over equity dilution continue to weigh on sentiment, while potential forced selling by underwater placees adds further downward pressure. Additionally, southbound capital has shown recent signs of reducing positions, with main capital flows remaining in sustained net outflow, compounding the bearish momentum.

(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.)

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

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1162473226?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-02 10:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1162473226","market":"hk","top_or_hot":-1,"title":"Movement Alert｜Convergence Technology Falls 5.2% in Regular Trading, Post-Placement Selling Pressure Intensifies as Stock Trades Well Below Placement Price","media":"Market Focus","content":"<p><p>On June 2, Convergence Technology fell 5.2% in regular trading, trading at HK$17.89/share, with trading volume of HK$53.06 million.</p><p>On the news front, the company completed a share placement on May 19, issuing 138 million new shares at HK$21.00 per share to no fewer than six placees, representing approximately 6.19% of the enlarged share capital, with net proceeds of approximately HK$2.885 billion. The current stock price now trades at a discount exceeding 15% to the HK$21.00 placement price, with placees facing deepening unrealized losses. Market concerns over equity dilution continue to weigh on sentiment, while potential forced selling by underwater placees adds further downward pressure. Additionally, southbound capital has shown recent signs of reducing positions, with main capital flows remaining in sustained net outflow, compounding the bearish momentum.</p><p>(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.)</p></p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Movement Alert｜Convergence Technology Falls 5.2% in Regular Trading, Post-Placement Selling Pressure Intensifies as Stock Trades Well Below Placement Price</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMovement Alert｜Convergence Technology Falls 5.2% in Regular Trading, Post-Placement Selling Pressure Intensifies as Stock Trades Well Below Placement Price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1054767329\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/51943b2858f75e05ca2ebb144b4e626a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Market Focus </p>\n<p class=\"h-time\">2026-06-02 10:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><p>On June 2, Convergence Technology fell 5.2% in regular trading, trading at HK$17.89/share, with trading volume of HK$53.06 million.</p><p>On the news front, the company completed a share placement on May 19, issuing 138 million new shares at HK$21.00 per share to no fewer than six placees, representing approximately 6.19% of the enlarged share capital, with net proceeds of approximately HK$2.885 billion. The current stock price now trades at a discount exceeding 15% to the HK$21.00 placement price, with placees facing deepening unrealized losses. Market concerns over equity dilution continue to weigh on sentiment, while potential forced selling by underwater placees adds further downward pressure. Additionally, southbound capital has shown recent signs of reducing positions, with main capital flows remaining in sustained net outflow, compounding the bearish momentum.</p><p>(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.)</p></p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"01729","symbol_name":"汇聚科技","start_time":0,"source_url":"","article_id":"1162473226","we_media_id":"1054767329","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1162473226","pubTimestamp":1780366158,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Market Focus","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1054767329","head_image":"https://static.tigerbbs.com/51943b2858f75e05ca2ebb144b4e626a"},"summary":"On June 2, Convergence Technology fell 5.2% in regular trading, trading at HK$17.89/share, with trading volume of HK$53.06 million.On the news front, the company completed a share placement on May...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"01729":"汇聚科技"},"translate_title":"动静提示|Convergence Technology在常规交易中跌5.2%，由于股票交易远低于配售价格，配售后抛售压力加剧","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"01729":1},"content_text":"On June 2, Convergence Technology fell 5.2% in regular trading, trading at HK$17.89/share, with trading volume of HK$53.06 million.On the news front, the company completed a share placement on May 19, issuing 138 million new shares at HK$21.00 per share to no fewer than six placees, representing approximately 6.19% of the enlarged share capital, with net proceeds of approximately HK$2.885 billion. The current stock price now trades at a discount exceeding 15% to the HK$21.00 placement price, with placees facing deepening unrealized losses. Market concerns over equity dilution continue to weigh on sentiment, while potential forced selling by underwater placees adds further downward pressure. Additionally, southbound capital has shown recent signs of reducing positions, with main capital flows remaining in sustained net outflow, compounding the bearish momentum.(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.)","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1162473226","isCrawlerRequest":true}