BUZZ-HK-listed CaoCao rises on management's voluntary lock-up of shares

Reuters12-17
BUZZ-HK-listed CaoCao rises on management's voluntary lock-up of shares

** Shares of online ride hailing platform operator CaoCao Inc 2643.HK rise 5.1% to HK$34.48, on course for the biggest one-day pct gain since Dec 4 and snapping six straight sessions of decline

** Company said 19 management members undertook to the company that for a period until June 24, 2026, they would not sell the company shares they acquired under the Pre-IPO Share Incentive Plan

** Company says the voluntary undertakings by the relevant management members to lock up their shareholdings demonstrate their confidence in the company

** Since debut on June 25 in Hong Kong, shares of CaoCao are down 18.3% so far from their IPO price of HK$41.94 apiece

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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