Movement Alert|CFMEE Falls 3.14% in Regular Trading, Over-Allotment Shares Begin Trading Today Adding Supply Pressure

Market Focus07-15

On July 15, CFMEE (09630.HK) declined 3.14% in regular trading, trading at HK$370.2/share, with turnover of HK$13.71 million.

On the news front, the company announced that 1,925,750 additional H shares issued through the full exercise of the over-allotment option officially began trading on the Hong Kong Stock Exchange today. The over-allotment option was exercised on July 10 at HK$252.73 per share, generating net proceeds of approximately HK$478 million. Following the exercise, total H shares issued increased from 12,838,650 to 14,764,400, representing approximately 10.08% of the enlarged total share capital. The newly listed shares were allocated to subscribers who had agreed to deferred delivery of their subscribed H shares under the global offering.

The increased float from the over-allotment shares appears to be weighing on the stock, which had already declined 3.28% in the prior trading session on July 14.

(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