HK's chemical group Kingboard falls most in 3 years on report chairman cut stake

Kingboard Holdings

22/04/2021 03:31

** Shares of laminates and chemical products maker Kingboard
Holdings Ltd  0148.HK  fall as much as 10% to HK$41.65, their
lowest since March 31, on course for second consecutive session
of decline
    ** Stock last down 9.8%, on track for the worst day since
March 2018; the fifth most actively traded shares by turnover
and among the 10 biggest percentage decliners on the Hong Kong
bourse
    ** Kingboard chairman Cheung Kwok-wing and family have
raised HK$1.16 bln ($149 mln) through the sale of part of their
stake in the company, Refinitiv publication IFR reported
 urn:newsml:reuters.com:*:nIfp95n7TW
    ** The deal, comprising 27 mln shares, was priced at
HK$42.90 each price representing a 7.3% discount to Wednesday's
close of HK$46.30 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 0.4%
    ** The Hang Seng China enterprises index  .HSCE  edges up
0.04%, and the benchmark index  .HSI  gains 0.1%
    ** As of the previous close, the Kingboard's stock had
surged 41.6% this year

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)