China's Meitu rises after founder raises stake

Meitu

19/06/2024 02:55

** Shares of Chinese online advertising and internet value
added services provider Meitu Inc  1357.HK  rise 4.8% to HK$2.6,
on course for biggest one-day pct rise since June 6, if trend
holds
    ** Stock on track for the second session of gains; fourth
biggest pct gainer in Hang Seng Composite Index on information
technology firms  .HSCIIT  
    ** Meitu says its founder and chairman, Wu Zeyuan, purchased
1 mln company shares at an average price of HK$2.48 each on June
18, raising his stake in the company to 575.5 mln shares, or
12.69%  
    ** Co says Wu does not rule out the possibility of further
increasing his shareholding
    ** Hang Seng Composite Index on information technology firms
 .HSCIIT  adds 1.1%, Hang Seng Tech Index  .HSTECH  climbs 1.4%
and Hang Seng Index  .HSI  rises 1.5%
    ** Stock down 28.1% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))