HK-shares of China's UBTech plunges after lock-in period ends

Ubtech Robotics

30/12/2024 08:15

** Hong Kong-listed shares of Chinese humanoid robot maker
UBTech  9880.HK  slide more than 30% to HK$61.50
    ** The drop wipes out ~$1.6 bln in market value of
Shenzhen-based co
    ** Plunge comes after expiry of lock-in period for stakes
held by major shareholders
    ** Co says chairman will extend by a year his lock-in period
covering 70.4 million shares
    ** Adds lock-in issue does not have any "material adverse
impact on the operation of the group"
    ** YTD, stock down 31.5%

 (Reporting by Anne Marie Roantree; Editing by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))