Stock Track | Lens Technology Plummets 5.16% Intraday Amid Concerns Over Ju Teng Acquisition and Profit-Taking

Stock Track05-20

Lens Technology's stock plummeted 5.16% during intraday trading on Wednesday, extending recent losses as market participants react to the company's acquisition plans and ongoing profit-taking pressure.

The decline follows the company's announcement of plans to acquire a 27.81% stake in Ju Teng International for HKD 734.2 million at HKD 2.20 per share — a discount of approximately 45.68% to prior trading levels — with intentions to launch a mandatory general offer for majority control. Market analysts have expressed concern over the substantial cash outlay required and the significant price discount embedded in the deal terms.

Additionally, the stock faces continued profit-taking pressure following a sharp rally of over 10% in the previous session driven by foldable screen catalysts and broker buy ratings. The broader Electronic Components sector remains soft, with peers such as Foxconn Interconnect Technology and KB Laminates also experiencing selling pressure, contributing to the sector-wide pullback.

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