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MOST KWAI CHUNG Once Surges 79% to 2-Yr+ High, Last Up 65% Despite Last Wk's Sale Announcement
After announcing last week that it would sell its stake, MOST KWAI CHUNG (01716.HK) stretched last Friday's (13th) 37.2% rally this morning (16th), once surging by 78.9% to an ...
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MOST KWAI CHUNG Once Surges 79% to 2-Yr+ High, Last Up 65% Despite Last Wk's Sale Announcement
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After announcing last week that it would sell its stake, MOST KWAI CHUNG (01716.HK)  +0.390 (+8.884%)   stretched last Friday's (13th) 37.2% rally this morning (16th), once surging by 78.9% to an over-two-year high of HKD2.97. It last traded at HKD2.75, up 65.66%, with a volume of 28.482 million shares, involving HKD66.729 million.

Last week, MOST KWAI CHUNG stated that the original controlling shareholder, Blackpaper Limited, sold a 65% stake (175.5 million shares) to independent third party Ma Liyang for a total consideration of HKD122 million, equivalent to a price of HKD0.6963 per share, a 42.45% discount to the pre-suspension closing price.

Meanwhile, ONE MEDIA GROUP (00426.HK)  -0.004 (-3.738%)   announced that it sold on March 13 a total of 12 million MOST KWAI CHUNG shares through the open market at an average price of HKD1.567 per share, with a total consideration of HKD18.8 million.
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