China's e-cigarette maker Smoore slumps as major shareholder plans stake sale

Smoore International Holdings

28/04/2022 07:21

(Adds HK government ban on e-cigarette, updates indexes, stocks
prices)
    ** Shares of e-cigarette maker Smoore International Holdings
Ltd  6969.HK  drop 17% to HK$14.50 - set to mark the biggest
daily pct decline since March 14 if losses hold
    ** Stock hits the lowest since March 15 and on track to snap
two sessions of gains; second-biggest pct decliner in the Hang
Seng Composite index  .HSCI  
    ** Co says EVE Energy Co Ltd  300014.SZ  will seek
shareholder approval to reduce its shareholding in Smoore by not
more than 3.5%, or 210.36 mln shares, within one year from date
of approval  urn:newsml:reuters.com:*:nFWN2WP28M
    ** EVE currently owns 31.64% of total issued shares of
Smoore
    ** EVE's Shenzhen-listed shares  300014.SZ  jump 4.6%
    ** Hong Kong is to ban https://bit.ly/3vlExHQ import,
promotion, manufacture, sale and possession for commercial
purposes of alternative smoking products, covering electronic
smoking products, heated tobacco products, herbal cigarettes and
their accessories effective April 30
    ** The Hang Seng consumer goods and services index  .HSCGSI 
slips 0.7%, while the Hang Seng Composite index tracking
industrials  .HSCIIG  climbs 0.5%
    ** The Hang Seng Composite index  .HSCI  rises 0.6% and the
benchmark Hang Seng index  .HSI  gains 0.2%

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