Stock Track | Kiu Hung International Soars 23% on Major Shareholders' Stake Increase

Stock Track10-17

Shares of Kiu Hung International, a Hong Kong-based toy manufacturer, surged by 23.65% on Wednesday, October 17th, 2024, following a significant increase in stakeholding by the company's chairman and co-chairman.

According to a filing with the Hong Kong Stock Exchange, chairman Yang Ling and co-chairman Li Lizhong acquired a substantial number of Kiu Hung International shares. Yang purchased 10 million shares, representing 1.3% of the company's issued share capital, while Li acquired 42 million shares, amounting to 5.3% of the total shares.

The move by the two major shareholders, who now collectively hold over 7% of Kiu Hung International's shares, signaled their confidence in the company's future prospects and was likely a driving factor behind the significant stock price surge on Wednesday. The stock closed the trading day at HK$1.85, up 25% from the previous day's closing price.

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