HK-listed Star Plus Legend plunges most since July on discounted share sale

Star Plus Legend Holdings

13/11/2025 04:27

** Shares of Star Plus Legend Holdings 6683.HK plunge 20.1% to HK$7.18, their lowest point since July 9

** Stock on course for the biggest one-day pct drop since July 21

** Intellectual property creator and operator plans sale of 54.5 mln new shares to key shareholder Frank Lai, who is chief financial officer of the co in a share placement, raising HK$392 mln ($50.47 mln) for developing exclusive celebrity IP, among others

** The shares will be issued at HK$7.20 apiece, a 19.1% discount to Wednesday's close of HK$8.99 each

** Says Lai will subscribe for the new shares following sales of 75 mln existing shares at the same price to third party investors

** YTD, Star Plus shares up 50.2%, Hang Seng TECH Index .HSTECH up 31.8%

($1 = 7.7675 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))