Gold jewelry maker and retailer Laopu Gold Co. Ltd. (6181.HK) said on Tuesday it has received approval from the Hong Kong Stock Exchange to make all of its H-shares freely tradable.
Following the approval, three shareholders will convert their entire 40.39 million non-tradable shares into freely circulating H-shares, representing 23.99% of the company’s total H-share float, according to the announcement.
Laopu’s stock has risen 20-fold since its June 2024 IPO,w hich it priced at HK$40.5 per share. The company’s shares fell nearly 8% on Wednesday, closing at HK$799.
By Lau Chi Hang
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