On October 23, LIGENT fell 5.59% in regular trading, trading at HK$18.31, with turnover of HK$5.79 million.
The move followed recent disclosure that the stabilization period related to the global offering ended on October 17, while the sponsor and overall coordinator did not exercise the overallotment option, causing that right to lapse and removing a short-term post-listing price support factor.
Earlier disclosures showed that 25.8022 million shares had been over-allocated in the international offering during the stabilization period. The stabilizing manager completed share return through stock borrowing and market purchases, with repurchase prices ranging from HK$25.28 to HK$32.96, and the final purchase executed on October 16 at HK$26.88. The company also said public float remains in compliance with listing requirements. LIGENT mainly makes optical modules, optical chips and optical network terminal products used in AI, cloud computing, FTTx, transmission networks and wireless applications.
(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.)
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