Movement Alert｜LIGENT falls 5.75% in Regular Trading, stabilization period ended and over-allotment option lapsed

Market Focus10-22

On October 22, LIGENT fell 5.75% in Regular Trading, trading at HK$20.12, with turnover of HK$8.13 million.

The move followed the company’s latest disclosure that the stabilization period related to its global offering ended on October 17, while the sponsor and overall coordinator did not exercise the over-allotment option, which has therefore lapsed.

Earlier details showed that 25.80 million shares had been over-allocated in the international offering, with the stabilizing manager borrowing shares from a shareholder and later repurchasing 25.80 million shares in the market for return. The repurchase price ranged from HK$25.28 to HK$32.96, and the last market purchase was completed on October 16 at HK$26.88. With stabilization arrangements now समाप्त, early post-listing technical support has faded, although the company said public float remains in compliance with listing requirements.

(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