Movement Alert｜51WORLD Intraday Rise 6.38% in Regular Trading, Chairman Extends Share Lock-up Commitment

Market Focus10-28 09:37

On October 28, 51WORLD rose 6.38% in regular trading, trading at HK$58.5, with turnover of HK$72.54 million.

The immediate catalyst was the company’s announcement that its major shareholder, chairman, executive director and chief executive officer Li Yi voluntarily extended the lock-up commitment on his holdings.

Under the announcement, Li Yi committed not to reduce 82,627,737 H shares, representing about 19.70% of the issued share capital, from December 30 through December 30. The previous lock-up was due to expire on December 29. The company said the extended restriction reflects the founder and management team’s confidence in future business expansion, technology breakthroughs and long-term investment value.

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