Hong Kong's Securities Regulator Flags High Concentration in GL-Carlink Technology Shareholding

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Hong Kong's Securities Regulator Flags High Concentration in GL-Carlink Technology Shareholding

MT Newswires Live01-15

GL-Carlink Technology (HKG:2531) received findings of an inquiry by Hong Kong's Securities and Futures Commission (SFC) regarding the high concentration of shareholding in the company as of Jan. 2, a Tuesday filing with the Hong Kong Exchange said.

The inquiry revealed that 20 shareholders held 348,040,500 shares, representing 94.94% of the company's issued shares, while other shareholders only held 18,559,500 shares, about 5.06% of the company's issued shares.

The report also noted the closing price of the company's shares rose from the listing price of HK$4.70 on July 15, 2024, to HK$27.00 on Jan. 2, 2025, representing a surge of 474%. The shares' closing price further rose to HK$29.70 by Tuesday, making the surge 532%.

The SFC cautioned shareholders and investors of possible high fluctuations in shares' price due to the high concentration of shareholding.

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