China's YSB drops after rally, key shareholder undertakes not to sell shares

YSB

13/12/2023 03:40

** Shares of pharmaceuticals and healthcare products
distributor YSB Inc  9885.HK  drop 48.7% to HK$14.62, their
lowest since debut on June 28, on the third straight session of
decline  
    ** Stock on course for the biggest one-day pct drop since
debut; biggest pct loser in Hang Seng Composite Index  .HSCI  
    ** Shares soared 61.3% last week
    ** Guangdong-based co says its single largest shareholder
MIYT Holdings has voluntarily undertaken not to sell any company
shares for a further period of 180 days to June 10, 2024 on
expiry of an initial lock-up period as set in its listing
prospectus 
    ** Says the move is to demonstrate MIYT's confidence in the
long term value of the company
    ** MIYT holds 125.3 mln shares, or 19.60% of the company
    ** Hong Kong's healthcare index  .HSCIH  slips 0.01%, Hang
Seng Composite Index  .HSCI  eases 0.8%, Hang Seng Index  .HSI 
down 0.7%
    ** Stock down 49.4% so far this week 
    

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