HK-listed Meitu falls on key shareholder's 2.8% stake sale

Meitu

25/02/2025 01:55

** Hong Kong-listed Meitu  1357.HK  slides as much as 13.4%
to HK$5.36, lowest since February 17
    ** Stock last down 7.9%; set for biggest one-day pct drop
since October 9, 2024
    ** Chinese online advertising and internet value-added
services provider says substantial shareholder Cai Wensheng
disposed 128 mln shares, or 2.81% of issued share capital,
between February 17-21
    ** Meitu's founder and CEO Wu Zeyuan says he is confident
with co's business outlook and will further increase his
shareholdings when appropriate after the black out period ends
on March 18
    ** Stock up 96% YTD
    
    

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