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Sanergy dives 98pc, trade suspended

by June Chen

The high concentration of shareholding - just 26 shareholders own 85.32 percent of the company's shares - meant the stock could fluctuate substantially even with a small number of shares traded.

The company's share price once rose to HK$23.10 apiece compared to the offer price of HK$1.60 when listed in the city in January 2023.

Source: The Standard

https://www.thestandard.com.hk/section- ... -suspended

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Major Shareholder of SANERGY GROUP (02459.HK) Forced to Sold 370M Shrs; Co. Resumes Trading Tdy

SANERGY GROUP (02459.HK) which suspended trading mid-session after a 98.4% crash yesterday (3 Sep), announced its knowledge of the drop in the share price and the increase in trading volume of its shares.

The company was informed by Otautahi Capital that a total of 370 million shares, representing about 36.64% of the company's entire issued share capital, were forcibly sold by securities companies in the open market through margin securities accounts yesterday.

The number of shares held by Otautahi Capital was reduced to 212 million shares, representing 21.02% of the Company's share capital.

The group confirmed that it has maintained normal business operations and there has been no material change in its business operations and financial position.

Save as disclosed above, it is not aware of any reasons for such price and volume movements, or any information which is required to be disclosed to avoid a false market in the securities of the Company, or any inside information required to be disclosed under Part XIVA of the Securities and Futures Ordinance.

SANERGY has applied to the Stock Exchange for resumption of trading in its shares with effect from 9 am today (4 Sep).

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN